The Appellate Tribunal rejected the appeal by the Appellant for non-compliance with a conditional order regarding the statutory deposit of Rs. 52.20 lakhs under Section 18(1) of the SARFAESI Act, 2002.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 218/2022 In A.IR:104/2022
M/S Woodblock Fashions V/S A.O.,Karnataka Bank Ltd
26/10/2022
No representation for Appellant.
This Appeal is coming up for statutory deposit. As per the conditional Order dated 07.10.2022, the Appellant shall deposit Rs.5,22,00,000/-, on or before 25.10.2022 and failure to deposit of said amount would result in rejection of the Appeal.
Appellant has not complied with conditional Order, hence, the Appeal A.IR:104/2022 is rejected for non compliance of Order dated 07.10.2022, namely deposit required under Section 18(1) of SARFAESI Act, 2002. All pending IAs, if any, stand closed.
Sd/Chairperson
M/S Woodblock Fashions
A.O., Karnataka Bank Ltd
As recorded by the court registry
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