Ms Paras Traders Ors. v. Smfg India Credit Co. Ltd.
Case brief
What is this about?
The Debts Recovery Appellate Tribunal at Kolkata noted an application under Section 18 of the SARFAESI Act. It observed defects, including a delay without a petition for condonation and the non-filing of a SARFAESI Notice. The Tribunal issued summonses.
What did the court decide?
Issue of summons to file affidavit of service.
What the court decided
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
DY.No. /92/2022 Date: 26/04/2022
M/s. Paras Traders & Ors.. ...………...Appellants
Vs.
M/s. Fullerton India Credit Company Ltd. & 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. Sourav Banerjee.
Scrutiny of the application observed the followings:
The application has been filed on behalf of M/s. Paras Traders & Ors against the order passed by the Ld. Presiding Officer, DRT-1, Kolkata, order dated 01-03-2022 in SA/112/2020. Application fees of Rs.29505/- vide T.R. no.115564 dt.13-04-2022 has been paid along with the application.
The case is under the jurisdiction of this Appellate Tribunal.
The Application is not within the period of Limitation but accompanied with a petition for condonation of delay.
Issues for consideration
2 issues framed by the court
Whether the appeal filed under Section 18 of the SARFAESI Act is within the period of limitation and deserves condonation of delay.
Whether the defects noted in the application oblige the Tribunal to issue summons and admit the appeal.
Parties & counsel
- appellant
M/s. Paras Traders & Ors.
- respondent
M/s. Fullerton India Credit Company Ltd. & Ors
Case details
As recorded by the court registry
All orders in this case
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