Ms Ratna Earth Works v. Indian Overseas Bank
Case brief
What is this about?
Single-paragraph order allowing Income Tax Appellate Tribunal.
What the court decided
A compact analysis
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Appeal Dy No. 425 of 2022)
(Arising out of S.A. 77 of 2021 in DRT-1 Hyderabad)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
17.11.2022
M/s. Ratna Earth Works & Anr.
… Appellants
-Vs-
Indian Overseas Bank & Anr.
… Respondents
Mr. N. Srinivas, learned counsel with Mr. P.N.Kishore, ld. Counsel for the Appellant. Mr. S.M.Singh, learned counsel for the respondent.
THE APPELLATE TRIBUNAL :
I.A. 284 of 2022 is filed by the appellant seeking waiver from predeposit. Learned counsel for the appellant submits that as per demand notice issued u/s 13(2) of the SARFAESI Act, 2022 due amount is Rs.36,69,198/-. Secured asset was auctioned and an amount of Rs.49.00 lakhs was appropriated. Thereafter sale certificate was issued and possession was handed over to the auction purchaser. These facts are conceded by the learned counsel for the respondents. In view of the fact, waiver application being no. I.A. 284 of 2022 is allowed. Regular number be provided in this appeal.
Parties & counsel
- appellant
M/s. Ratna Earth Works & Anr.
- respondent
Indian Overseas Bank & Anr.
Coram
Anil Kumar Srivastava
Case details
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