M/ S Maruti Steel Tubes v. Indian Bank and Ors.
Case brief
What is this about?
This listing order deferred the admission of an appeal filed by M/s Maruti Steels Tubes under section 18 of the SARFAESI Act against a DRT order. The court noted the appellant's counsel's undertaking to file applications for waiver and condonation of delay, with no pre-deposit made.
What did the court decide?
The case was listed for admission; no substantive relief granted.
What the court decided
Appeal Dy. No. 570/2022
(M/s Maruti Steels Tubes Vs. Indian Bank)
Date: 19.09.2022
Shri Sandeep Arora, Ld. Counsel appears and undertakes to file Vakalatnama on behalf of Respondent No. 2 i.e. Asset Reconstruction Company of India Ltd.
Shri V.K. Shukla, Ld. Counsel for the appellant is present and files Waiver Application and Delay Condonation Application.
No pre deposit has been made. Ld. Counsel states that against the demand of Rs. 16,61,18,737/- and the respondent financial institution is already holding Rs. 5.5 crore, therefore, approximately 35% of dues amount has been paid. . Waiver Application has been filed. Ld. Counsel states that he will argue before the Hon’ble Court.
The instant Appeal has been filed under section 18 of the SARFAESI Act against final order dated 26.05.2022 of DRT, Jabaolpur in S.A. No. 293/2021. Waiver Application (I.A. No. 396/2022) Delay Condonation Application (I.A. No. 395 /2022) have been filed.
List this case before Hon’ble Chairperson on 26.09.2022 for admission.
Registrar
Issues for consideration
2 issues framed by the court
Whether to admit the appeal filed under section 18 of the SARFAESI Act against a DRT order.
Whether to condone the delay in filing the waiver application and pre-deposit in the absence of pre-deposit.
Parties & counsel
- appellant
M/s Maruti Steels Tubes
- other
Indian Bank
- other
Asset Reconstruction Company of India Ltd.
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 091090005702022
- Topic
- Banking and Recovery
All orders in this case
10 orders share this CNR
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