K.R.Subbaiah And Anr vs Indian Bank, Madurai

The Supreme Court addressed the appeal of judgment-debtors against the dismissal of their civil revision petition challenging the Debt Recovery Tribunal's recovery certificate and subsequent proceedings. The Court held that the appellants had a statutory remedy under Section 20 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, and thus the High Court's dismissal was justified. The Court also noted the appellants' payment of Rs. 16 lakhs to the bank, which was accepted without prejudice, indicating a resolution of the principal amount and interest issues.