Excel v. Union Bank of India
Case brief
What is this about?
Appellant failed to make the statutory deposit despite representation of a pending appeal before the Supreme Court. Due to absence of any stay order, the Tribunal held that the order for deposit must be given effect, resulting in the rejection of the appeal.
What did the court decide?
The appeal A.IR:198/2022 is rejected for non-compliance with the Order dated 29.09.2022.
What the court decided
A compact analysis
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 293/2022 In A.IR:198/2022
M/S Excel V/S A.O.,Union Bank Of India
14/10/2022
This Appeal is coming up for statutory deposit. As per the conditional Order dated 29.09.2022, Appellant shall deposit Rs.5,79,42,892/-, on or before 13.10.2022, and failure to deposit of said amount would result in rejection of Appeal.
Today, Counsel for Appellant represented that an Appeal is preferred before Hon’ble Supreme Court, but no details are furnished. As there is no stay from any court, Order dated 29.09.2022 has to be given effect. Therefore, for non compliance of Order dated 29.09.2022, Appeal A.IR:198/2022 is rejected.
Sd/-
Chairperson
Parties & counsel
- appellant
M/S Excel
- respondent
A.O., Union Bank Of India
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · October
- CNR
- 331090001982022
- Topic
- Banking and Recovery
All orders in this case
9 orders share this CNR
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