1994 (7) TMI 234

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..... ed Act, namely, The Recovery of Debts Due to Banks and Financial Institutions Act, 1993, is invalid. He says the Act is discriminatory in nature and that there is no provision for filing of counter-claims or set off before the Tribunal constituted under the Act, and further that while the High Court tries the suits of the value of Rs. 5 lakhs to Rs. 10 lakhs and the District Courts up to Rs. 5 lak .....

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..... perhaps, be not valid. To us it appears that it will be appropriate to stay the operation of the Act at this stage as otherwise if we do not do that and the petitioners succeed ultimately, it will create a great deal of complications and ramifications will be much more, and in case the petitioners lose, the things can be mended. Accordingly, we direct that there shall be stay of operation of this .....

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