NAHAR INDUSTRIAL ENTERPRISES LTD. vs HONGKONG & SHANGHAI BANKING CORP.

The Supreme Court addressed the jurisdictional issue regarding the transfer of a suit from a Civil Court to a Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court held that such a transfer is permissible, emphasizing the need for efficient resolution of disputes involving financial institutions. The judgment clarified the procedural aspects of transferring cases and upheld the High Court's decision to transfer the suit, thereby affirming the authority of the Debt Recovery Tribunal in handling such matters.