Ms Chennai Auto Spares v. Idfc First Bank Ltd.
Case brief
What is this about?
The Debt Recovery Appellate Tribunal rejected the appeal for non-compliance with the statutory deposit condition. Time for deposit had been enlarged, but the required amount was not deposited by the deadline.
What did the court decide?
The appeal AIR 148/2022 was rejected as it was barred by non-compliance with the deposit order.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 284/2022 In A.IR:148/2022
M/S Chennai Auto Spares V/S Idfc First Bank
22/12/2022
This appeal is coming up today for reporting compliance of statutory deposit.
As per conditional order dated 27.10.2022 passed in IA 284/2022 (Waiver), appellant shall deposit a sum of Rs.80,97,281/- on or before 10.11.2022 and failure to deposit the same would result in dismissal of appeal.
However, on 10.11.2022, appellant filed IA 456/2022 seeking enlargement of time and this Tribunal after giving opportunity to other side to file counter allowed the said IA on 23.11.2022 and granted four weeks time as prayed for and accordingly appellant shall comply with order dated 27.10.2022 on or before 21.12.2022.
Today Ld. Counsel for appellant submitted that money is not deposited and sought further time. As it is a conditional order, request for further time is refused.
Therefore, Appeal AIR 148/2022 is rejected, by giving effect to order dated 27.10.2022 for non compliance of statutory deposit.
Sd/Chairperson
Parties & counsel
- appellant
M/S Chennai Auto Spares
- respondent
Idfc First Bank
Coram
Chairperson
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · December
- CNR
- 331090001482022
- Bench
- S Ravi Kumar
All orders in this case
12 orders share this CNR
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