The Appellate Tribunal dismissed the application for a full waiver of the pre-deposit under Section 21 of the RDBFI Act. Upon counsel concession regarding the appellant's financial condition, the court directed a waiver to the extent of 25% of the appeal amount.
Direction to make 25% deposit of Rs. 16,05,828.20 as required pre-deposit.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Diary No. 247 of 2019)
(Arising out of T.A. 214 of 2001 in DRT, Cuttack)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
27.07.2022 Samant Marine Udyog … Appellant -VsUnited Bank of India … Respondent Mr. Nemani Srinivas, Learned Counsel for Appellant Mr. Debasish Chakrabarti with Ms. Sharmistah Pal, Learned Counsel for the Respondents
THE APPELLATE TRIBUNAL :
Application for Waiver of Pre Deposit
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. During the course of hearing Learned Counsel for the Appellant fairly conceded of his right to pray for reduction to an extent of 25% on the ground of financial condition.
I find the ground sufficient. Accordingly, Appellant is directed to make 25% amount of Rs.16,05,828.20p.
List on 29th September, 2022. In the meantime compliance of the order be made by Appellant.
Opposition and rejoinder be filed before the date of listing.
(Anil Kumar Srivastava,J) Chairperson
Dated: 27th July, 2022 03/ac
1 issue framed by the court
Whether the pre-deposit under Section 21 of the RDBFI Act shall be waived or reduced due to the appellant's financial condition.
1 provisions across 1 enactments
Samant Marine Udyog
United Bank of India
Anil Kumar Srivastava
As recorded by the court registry
10 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
