EUREKA FIRBES LIMITED vs ALLAHABAD BANK .

The Supreme Court ruled that under Section 2(g) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Debt Recovery Tribunal has jurisdiction to entertain claims against parties who may not be direct borrowers but are involved in transactions related to the debt. The Court held that the appellant's contention of lacking privity of contract with the bank was without merit, affirming the Tribunal's authority to adjudicate the matter. Consequently, the appeal was dismissed, upholding the Tribunal's jurisdiction.