Bombay High Court Quashes DRT Order for Interim Deposit in Debt Recovery Case — Balancesheet Entry Not Conclusive Admission When Dispute Exists. The court held that an entry in a balancesheet, when qualified by auditor's notes indicating a dispute over interest and principal, does not constitute an unequivocal admission of liability under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993.
1 Dec 2010The case involves a writ petition filed by M/s. Inteltek Automation Pvt. Ltd. and two others against Indusind Bank Ltd. and another, challenging an or...




