https://www.taxtmi.com/caselaws?id=281031 Banking disputes linked to disputed letters of credit and rival claims between banks were treated as falling within the exclusive jurisdiction of the Debts Recovery Tribunal, because liabilities arising out of banking business were covered broadly as "debt" and could be pursued by counterclaim there. The High Court therefore could not restrain or decide that part of the controversy, and the interim stay of Tribunal proceedings was vacated. By contrast, claims against the borrower and the bank's own employees, based on alleged fraud and collusion in internal transactions, were treated as severable and left open for adjudication in the suit, with maintainability and jurisdiction to be decided there. en-us Tue, 16 Jul 2002 00:00:00 +0530 Fri, 31 May 2019 17:30:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281031 Banking disputes linked to disputed letters of credit and rival claims between banks were treated as falling within the exclusive jurisdiction of the Debts Recovery Tribunal, because liabilities arising out of banking business were covered broadly as "debt" and could be pursued by counterclaim there. The High Court therefore could not restrain or decide that part of the controversy, and the interim stay of Tribunal proceedings was vacated. By contrast, claims against the borrower and the bank's own employees, based on alleged fraud and collusion in internal transactions, were treated as severable and left open for adjudication in the suit, with maintainability and jurisdiction to be decided there. Case-Laws Indian Laws Tue, 16 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281031