Ms Premier Distilleries P Ltd. v. State Bank of India
Case brief
What is this about?
Appellants sought extension of time to deposit security orders were to deposit within four weeks of 22.9.2021 Failure to comply resulted in dismissal Request refused as no deposit or further extension application timely filed Appeal rejected as per order dated 22.9.2021
What did the court decide?
Extension of time request refused; appeal rejected giving effect to conditional order dated 22.9.2021.
What the court decided
A compact analysis
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 604/2021, IA 121/2021 & IA 122/2022 In AIR 7/2021
Premier Distilleries Pvt Ltd & 3 Ors ... Appellants
Vs
Sbi
... Respondent
29/06/2022
Counter of respondent bank filed.
This matter is coming up for compliance of order dated 22.9.2021 passed in IA 121/2021(waiver), according to which, appellants herein have to deposit a sum of Rs.6,72,50,000/- within a period of four weeks from 22.9.2021 and another sum of Rs.6,72,50,000/- within four weeks thereafter and it is also ordered that failure to deposit any single instalment would result in automatic dismissal of the appeal without any reference to this Tribunal and the matter stood posted to 20.10.2021 for compliance.
As Office of Chairperson was vacant by 20.10.2021, matter was adjourned from time to time and finally on 8.4.2022 this matter came up before me and on request of respondent bank, matter was adjourned to 23.5.2022 and again from 23.5.2022 to this date on request of appellants.
Issues for consideration
1 issue framed by the court
Whether to grant extension of time for deposit of security to comply with an order of the Tribunal dated 22.9.2021 under Section 18 of SARFAESI Act.
Parties & counsel
- appellant
Premier Distilleries Pvt Ltd
- respondent
Sbi
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · June
- CNR
- 331090000072021
- Topic
- Banking and Recovery
All orders in this case
4 orders share this CNR
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