The Debt Recovery Appellate Tribunal adjourned an appeal filed in 2004, noting a lack of representation from the appellant. Observing the pandemic context, the tribunal directed parties to make settlement efforts within a week or prepare for a hearing.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI Present : Mr. Justice Ashok Menon, Chairperson Appeal No. 106/2004
Between M/s. K. K. Traders … Appellant/s V/s. Assets Reconstruction Co. (India) Ltd. …Respondent/s
Mr. Sachin N. Kaikini, Advocate for Respondent.
-: Order dated : 06/06/2022 :-
This Appeal is of the year 2004 challenging the order of D.R.T.-II, Mumbai, in Original Application (O.A.) No. 35/2000 dated 21.11.2003 and the Appeal is pending for last 18 years. On 19.08.2019 the learned counsel appearing for Appellant submitted that earnest attempts to settle the matter are being made and there is likelihood of settlement. Then the matter has been adjourned from time to time for exploring the possibility of settlement.
Today, when the matter is taken up there is no representation for the Appellant and the learned counsel for Respondent is present. The learned counsel for Respondent has also no instructions regarding the settlement. Since there was pandemic during which period the matter was not taken up on various dates, I find it reasonable to give time to the parties for reporting settlement and if settlement is not taking place, then the parties are directed to get ready for hearing on the next date, positively.
Post on 05.07.2022 for reporting settlement / hearing.
dpj-16
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M/s. K. K. Traders
Assets Reconstruction Co. (India) Ltd.
Ashok Menon
As recorded by the court registry
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