Appellants withdrew an appeal due to inability to deposit remaining pre-deposit. Tribunal allowed withdrawal, directed release of deposited amount with interest, and permitted respondent to proceed.
Withdrawal of appeal allowed; pre-deposit of Rs.7,88,000/- to be released to appellants with interest within seven days.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No. 67/2022 Arising out of S.A. No. 45/2021 (DRT, Jaipur)
M/s Radhe Garments & Anr. Vs Indian Bank & Ors.
05.08.2022 Hon’ble Mr. Justice Brijesh Sethi
Present: Mr. Akshat Mathur, Ld. Counsel for the appellant.
Mr. Vinit Mehta, Ld. Counsel for the respondent.
This matter has been taken up by me through Video Conferencing.
Ld. Counsel for the appellants states that he has failed to deposit the remaining pre-deposit of Rs.7,40,483/- and, therefore, he wants to withdraw the present appeal.
Ld. Counsel for the appellants further states that he has deposit a sum of Rs. 7,88,000/- on 23.05.2022 with the Ld. Registrar of this Tribunal and the same may be returned to him.
Ld. Counsel for the respondent bank objects to the same and states that appeal has been filed just to delay the recovery of the bank’s dues. The auction in this matter has already been conducted and the bank was going for registration of the property in the name of auction purchaser, however because of the order of this Tribunal, the same could not be done.
Heard.
In view of the submissions made by the Ld. Counsel for the appellants that he is unable to deposit the remaining pre-deposit, the request made by Ld. Counsel for withdrawal of present appeal is allowed.
The appeal stands disposed of as withdrawn.
Let the amount of Rs.7,88,000/- deposited with the Ld. Registrar, DRAT, Delhi be released to the appellants along with up-to-date interest within seven days.
The bank is at liberty to proceed further as per law.
-: 2 :
At this stage, Ld. Counsel for the respondent bank prays that the predeposit made by the appellants be released to the respondent bank. However, in the opinion of this Tribunal, when the appeal has been withdrawn by the appellants, the pre-deposit has to be returned to the appellants only.
(CHAIRPERSON)
-ak
M/s Radhe Garments & Anr.
Indian Bank & Ors.
Brijesh Sethi
As recorded by the court registry
5 orders share this CNR
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