1 mp t IN THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMARY SUIT NO. 129 OF 1999 ICICI Ltd. .. Plaintiff versus Palm Beach Art Silk Industries Pvt.Ltd. & Anr. .. Defendants ... Mr.Sayyed with Mr.Mr.Durgesh Khanapurkar i/b M.K. Ambalal & Co. for the plaintiff. CORAM : D.G. KARNIK, J DATED : 23rd April 2009 P.C.: 1. Perused the affidavit dated 17th April 2009 sworn in by Mr.Sunil Tilokchandani, Partner of M/s.Manilal Kher Ambalal & Co. The affidavit states that in the notification dated 16th July 1999, Mumbai Debt Recovery Tribunal was established and therefore u/s.31 of The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short "the 2 Act") all suits filed by financial institutions stand transferred to the Mumbai Debt Recovery Tribunal. Affidavit further states that the praecipe to that effect was filed in the court. Counsel for the plaintiff also states that plaintiff is a financial institution as defined u/s.4A of the Companies Act and therefore would be a financial institution under Clause (i) of Section 2(h) of the Act. 2. Submission is accepted. Suit is transferred to the Debt Recovery Tribunal, Mumbai. 3. Office shall do the needful. (D.G. KARNIK, J)