The Tribunal permitted the appellant to deposit 25% of a decretal amount as pre-deposit under Section 21 of the RDBFSI Act, 1993, due to financial constraints. The matter was listed for appeal hearing.
Granted permission to deposit 25% of the decretal amount as pre-deposit.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Diary No. 172 of 2022
(Arising out of O.A. 237 of 2013 in DRT, Cuttack)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
15.11.2022 M/s. S.R. Retail Zone Private Limited & 3 Others … Appellants -VsUnion Bank of India … Respondent Mr. Nemani Srinivas, Learned Counsel for Appellant None for Respondent
THE APPELLATE TRIBUNAL :
Despite service, neither Respondent Bank is represented nor objection is filed.
I.A. 129 of 2022
This is an application praying for waiver of pre-deposit under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 on the ground that a decree of Rs.34.09,139.50 was passed against the Appellant. Due to financial constraint Appellants prays for permitting them to deposit 25% of the decretal amount as pre deposit.
Having heard the Learned Counsel for the Appellant and going through the record, I find that the ground to be sufficient. Accordingly, I.A. 129 of 2022 is allowed to the extent that the Appellants are permitted to deposit 25% of the decretal amount within a period of four weeks from date.
Respondent may file opposition within six weeks; rejoinder, if any, be filed within two weeks thereafter.
In the meantime Respondent be served afresh and Affidavit-of-service be filed within two weeks.
I.A. 129 of 2022 stands disposed of.
List the matter on 8th February, 2023 for hearing of the appeal.
(Anil Kumar Srivastava,J) Chairperson
Dated: 15th November, 2022 05/ac
1 provisions across 1 enactments
M/s. S.R. Retail Zone Private Limited & 3 Others
Union Bank of India
ANIL KUMAR SRIVASTAVA
As recorded by the court registry
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