The Single Judge dismissed the writ petition challenging an order by the Debts Recovery Appellate Tribunal directing deposit of Rs. 50 lakhs as a condition precedent for entertaining an appeal, finding no infirmity in the Tribunal's exercise of discretion.
The writ petition is dismissed with no order as to costs.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORIGINAL SIDE
WRIT PETITION NO.4 OF 2010
Gem Pharmaceuticals Limited
& Ors..... Petitioners
Vs.
Central Bank of India.... Respondent
S/Shri M.M. Vashi i/b Yogesh K. Deshpande
for the Petitioners.
Shri H.N. Thakore with Ms Prajakta Mhatre
i/b M/s. Thakore Jariwala & Associates
for the Respondent.
P.C:
Heard the submissions made by the
learned counsel appearing for the parties and
also perused the impugned order dated
24-11-2009, passed by the Debts Recovery
Appellate Tribunal, Mumbai in M.A. No.917 of
2007 in Appeal No.149 of 2009. By the impugned
order, the petitioners are directed to deposit
a sum of Rs.50 lakhs with the Registrar of the
DRAT within six weeks as against their dues of
more than Rs.90 lakhs, the deposit of the
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amount being a condition precedent for the
appeal to be entertained. Under the
circumstances, we do not find any infirmity in
the impugned order as the direction to deposit
is a condition precedent for the appeal to be
entertained and is mandatory. In our opinion,
the DRAT has exercised its discretion properly
and also considering the total amount due and
payable by the petitioners, we do not find any
case having been made out for interference by
this Court. The petition, therefore, is
dismissed.
J.N. PATEL, J.
1 issue framed by the court
Whether the High Court should interfere with the DRAT order directing deposit of amount as condition precedent for appeal.
Gem Pharmaceuticals Limited
Central Bank of India
J.N. PATEL
As recorded by the court registry
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