Supreme Court of India
Sita Ram Singhania vs Bank Of Tokyo-Mitsubishi Ltd. & … on 11 May, 1999
Bench: S.L.Goyal
PETITIONER: SITA RAM SINGHANIA Vs. RESPONDENT: BANK OF TOKYO-MITSUBISHI LTD. & ORS DATE OF JUDGMENT: 11/05/1999 BENCH: S.L.Goyal JUDGMENT:
DER
We see no reason why the High Courts in such matters
filed by the defendants in suits instituted by the banks
before the Debt Recovery Tribunal should more or less as a
matter of course grant stay of proceedings before the
Tribunals. The very purpose of setting up the Tribunals
will be lost by granting stay merely because there is
challenge to the notification constitution the Tribunal. In
the present case, the High Court has rightly come to the
conclusion that as the proceedings were initiated in the
State of Madhya Pradesh, the Allahabad High Court had no
jurisdiction.
