In Brief
A bank sought to reject civil suits filed by property purchasers who challenged a 15-year-old Debt Recovery Tribunal decree on grounds of alleged fraud. The purchasers claimed the mortgage was forged. The Court held that such suits are barred by the Recovery of Debts due to Banks and Financial Institutions Act, 1993, which provides a statutory remedy of appeal to the Appellate Tribunal. The fraud allegations were illusory—they pertained only to the borrowers, not the bank. The suits were filed long after the decree and mortgage, based on vague discovery claims. The Court rejected the plaints as vexatious abuse of process, reaffirming that statutory remedies must be exhausted before civil suits can challenge DRT decrees.
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