Nominated Bench of the Debts Recovery Appellate Tribunal, Mumbai, condoned delay in filing multiple applications including refund of SARFAESI deposit and revalidation appeal, granted due to expiry of previous directors.
Condonation of delay; stay of disposal; taking on file of main appeals and granting refund allowance.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 70/2021 (CoD)
In
M.A. No. 23/2022 (Revalidation of Cheque)
In
(Misc. Appeal No. 41/2011- Disposed of)
Between
SBS Organics Pvt. Ltd. … Appellant/s V/s. Axis Bank & Anr. …Respondent/s
Mr. P. J Pandit, i/b M/s. Pandit & Ass., Advocate for Appellant. Mr. Puneet Gogad, Advocate for Respondent Bank.
-: Order dated : 28/06/2022 :-
The Misc. Appeal was already disposed of and the then director of the Appellant Company has filed an application for refund of the pre-deposit made u/s 18 of SARFAESI Act. Some directors expired and they could not pursue the application for refund of deposit. The cheque was already drawn in favour of the company but in view of the fact that the then directors responsible for running the company expired, there was a delay in filing fresh application by the directors who are presently in charge of the affairs of the company. There is a delay in filing M.A. No. 23/2022, thus Appellant has filed I.A. No. 70/2021 seeking condonation of delay. In view of the specific circumstances explained by the Appellant the delay stands condoned and the application for refund shall be taken on file and the amount with accrued interest, if any, shall be disbursed to the Appellant on proper acknowledgment.
M.A. No. 23/2022 for revalidation shall also be taken on file and stands allowed.
Sd/-
Chairperson
mks-7
SBS Organics Pvt. Ltd.
Axis Bank
Ashok Menon
As recorded by the court registry
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