Allowed
A.D.S. Hitech Polymers Private Limited & Anr. v. Punjab National Bank & Ors.
Delhi HCW.P.(C)/9826/2018
Case brief
AI extract
What is this about?
The High Court disposed of a writ appeal challenging an order of DRAT dismissing an appeal due to non-payment of the required fifty percent pre-deposit. The Court granted liberty to the petitioner to approach DRAT with an application to reduce the deposit to twenty-five percent by adjusting proceeds from sold properties, allowing the appeal to be revived if the Tribunal agrees.
What did the court decide?
Exemption allowed from the mandatory fifty percent pre-deposit requirement; liberty granted to file an application to reduce the deposit to twenty-five percent by adjusting proceeds from sold properti