UNITED BANK OF INDIA, CALCUTTA vs ABHIJIT TEA CO.PVT. LTD. .

The Supreme Court addressed the applicability of the 'Recovery of Debts Due to Banks and Financial Institutions Act, 1993' in the context of a pending suit. The Court held that the suit filed by the Bank was not 'immediately pending' on the original side of the High Court as of the crucial date, 27.4.1994, and thus was not subject to transfer to the Tribunal under Section 31 of the Act. The appeal by the Bank against the High Court's order to retain the suit was dismissed, affirming the lower court's decision.