The Debt Recovery Appellate Tribunal admitted an appeal filed with condoned delay and granted a waiver of pre-deposit to an Application seeking relief against a demand of Rs. 4.45 crores, allowing the case to be listed for hearing.
Condonation of delay in filing appeal allowed; Waiver of pre-deposit under Section 18 granted.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Dy.No. 20 of 2020)
(Arising out of S.A. No. 107 of 2018 in DRT, Cuttack)
THE HON’BLEMR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
02.08.2022
Radhakanta Panda … Appellant -VsCentral Bank of India …Respondents
Mr. A. Thakur, Learned Counsel for Appellant Ms. A. Rao, Learned Counsel for the Respondent
THE APPELLATE TRIBUNAL :
An application I.A. No. 160 of 2022 filed under Section 18 of the SARFAESI Act for waiver from making a pre deposit The claim in the demand of Rs. 4.45 crores wherein the Appellant has already deposited Rs. 2.21 crores which is approximately 50% of the amounts due. Accordingly, Application u/s 18 of the SARFAESI Act is allowed. Waiver is granted.
I.A. No. 12 of 2020 is an Application u/s 5 of condonation of delay of 36 days in filing the Appeal. Learned Counsel for the Respondents opposes the I.A. The ground explained in the Application is sufficient to condone the delay. Hence, I.A. 12 of 2020 is allowed.
Let the Appeal be registered in its original number. Opposition is already filed. Opposition is already filed. Rejoinder if any, be filed within four weeks.
List on 30th September, 2022 for hearing along with Appeal No. 40 of 2020.
(Anil
Kumar Srivastava,J) Chairperson Dated: 2nd August, 2022 1/tp
2 issues framed by the court
Whether the delay in filing the appeal under Section 5 of the SARFAESI Act should be condoned.
Whether the appellant is entitled to a waiver of the pre-deposit under Section 18 of the SARFAESI Act for an Application.
1 provisions across 1 enactments
Radhakanta Panda
Central Bank of India
Anil Kumar Srivastava
As recorded by the court registry
13 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
