Applications for restoration of unnumbered appeals were allowed after depositing the required statutory security under the SARFAESI Act. The earlier rejection of appeals was set aside, and the office directed to register the appeals.
Applications restored; rejection of appeals set aside; office directed to register appeals.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 393/2022 In A.IR:234/2022
M/S Mcsys Auto Ancilliaries Pvt Ltd & Ors V/S A.O.,State Bank Of India & Ors
18/11/2022
This Application is filed seeking for enlargement of time for complying with Common Order dated 24.08.2022.
Heard both sides.
Counsel for 1st Respondent Bank reported no objection in allowing Application.
Considering the reasons stated in the Affidavit filed in support of Petition, IA 471/2022 is allowed.
COMMON ORDER
These Applications are filed seeking restoration of unnumbered Appeals that are rejected for non-compliance of Common Order dated 24.08.2022, namely statutory deposit required under Section 18 (1) of SARFAESI Act, 2002.
It is represented that amount is now deposited, but after the rejection of Appeals, and reasons for delay of deposit are explained in Affidavits filed in support of Applications.
On the other hand, Counsel for Respondent Bank submitted that without prejudice to the rights of Bank, an opportunity may be given to Petitioners/Appellants as they have deposited money.
Considering submissions of both sides, Applications are allowed and rejection of Common Order dated 08.09.2022 is set aside and office to register the Appeals, if they are otherwise, in order.
Sd/Chairperson
2 issues framed by the court
Whether the appeals should be restored on subsequent deposit of statutory security despite prior rejection due to delay.
Whether the impugned order rejecting unnumbered appeals due to non-compliance should be set aside.
1 provisions across 1 enactments
M/S Mcsys Auto Ancilliaries Pvt Ltd & Ors
A.O., State Bank Of India & Ors
Chairperson
As recorded by the court registry
16 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
