The Tribunal allowed an application seeking extension of time for deposit of the second instalment of pre-deposit (Rs. 1.50 Crores) against the appeal, granting three weeks based on the appellant's bona-fides and prior timely deposit of the first instalment.
Time extended by three weeks up to 20.07.2022 for deposit of Rs. 1.50 Crores second instalment of pre-deposit.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 252/2022 In Misc. Appeal No. 20/2022
Between
Prabhu Construction & Anr. … Appellant/s V/s. Canara Bank …Respondent/s
Mr. Ankur Kumar, i/b M/s. Ankur Kumar & Associates, Advocate for Appellants.
Ms. Mittal Parekh along with Mr. Digambar Gaikwad, i/b M/s. M. V. Kini & Co., Advocate for Respondent.
-: Order dated : 29/06/2022 :-
This Tribunal vide order dated 10.05.2022, in I.A. No.60/2022 i.e. application filed for a waiver of pre-deposit, directed the Appellants to deposit a sum of Rs.3 Crores as a predeposit in two equal instalments of Rs.1.50 Crores each. The first instalment of Rs.1.50 Crores has already been deposited on time. The second instalment of Rs.1.50 Crores was due yesterday but the Appellant did not pay that amount in time. Today, they have come with an application stating that they want to sell a property situated in Goa for which there is a prospective buyer, who comes from Dubai within a period of 3 weeks and hence seeks an enlargement of the time granted by this Tribunal to pay the second instalment of pre-deposit.
The reading of the order dated10.05.2022 would indicate it is a self-working order that states that in case of default in any of the
above-referred deposits, the Appeal stands dismissed automatically. Even though the provisions of the C.P.C. are not strictly applicable to the proceedings before this Tribunal. This Tribunal also can grant an extension of time in certain cases invoking the principles for enlargement of time prepounded under section 148 of the C.P.C. In the instant case, the Appellants have proved their bonafide by depositing the first instalment of Rs.1.50 Crores on time and now they are seeking an extension of 3 weeks to deposit the second instalment on selling his property situated in Goa, for which he has already found a prospective buyer.
Considering the facts and circumstances of the case and that the Appellants have paid the first instalment within time, I find that this Tribunal is not powerless to grant an enlargement of time for paying second instalment.
Hence, the application i.e. I.A. No. 252/2022 is allowed and time to pay the second installment of pre-deposit of Rs.1.50 Crores is extended by three weeks i.e. up to 20.07.2022.
Post on 21.07.2022 for compliance of payment of the second instalment of pre-deposit.
In case the above amount is not deposited on or before 20.07.2022, the Appeal shall stand dismissed automatically.
Sd/Chairperson
dpj-13
2 issues framed by the court
Whether the Tribunal has the power to grant an extension of time for deposit of the second instalment of pre-deposit.
Whether the Tribunal can enlarge time under Section 148 CPC principles for bona-fide appellants.
Prabhu Construction & Anr.
Canara Bank
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
