Ms Penguin Textiles Ltd. v. Indian Bank
Case brief
What is this about?
The Debts Recovery Appellate Tribunal at Kolkata received an application under Section 18 of the SARFAESI Act by the appellants against an order of DRT-1, Hyderabad. While noting jurisdiction and limitation, the Tribunal recorded defects in the application's filing, such as missing documents and unsigned annexures, and issued summons.
What the court decided
A compact analysis
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
DY.No. /401/2020 Date: 26/04/2022
M/s. Penguin Texttiles Ltd. & Anr.. ...………...Appellants
Vs.
Indian Bank & Ors ...... .……….Respondents
Received an application under section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 presented by Ld. Advocate, Mr. T. Vijay Kumar.
Scrutiny of the application observed the followings:
The application has been filed on behalf of M/s. Penguin Texttiles Ltd. & Anr against the order passed by the Ld. Presiding Officer, DRT-1, Hyderabad, order dated 10-12-2019 in SA/08/2014. Application fees of Rs.100010/- vide T.R. no.114759 dt.11-11-2020 has been paid along with the application.
The case is under the jurisdiction of this Appellate Tribunal.
The Application is well within the period of Limitation.
Waiver application filed.
Parties & counsel
- appellant
M/s. Penguin Texttiles Ltd. & Anr.
- respondent
Indian Bank & Ors
Case details
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