Abhinav Education Society v. Bank of Baroda
Case brief
What is this about?
The Tribunal granted an extension of time for the appellant to pay the first instalment of pre-deposit due on 28.06.2023, extending the deadline to 19.07.2023 for joint payment with the second instalment.
What did the court decide?
The period to pay the 1st instalment of pre-deposit is extended till 19.07.2023.
What the court decided
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
I.A. No. 432/2023(EoT)
In
Appeal on Diary No.332/2023 Between
Abhinav Education Society … Appellant/s V/s.
Bank of Baroda …Respondent/s
Mr. Rajesh Nagori, i/b Ms. Sanjana Ghogare, Advocate for Appellant.
A Anchal, Ms. Rathina Maravarman, Advocate for Respondent Bank.
-: Order dated: 30/06/2023:-
The Appellant has filed an application at Diary No. 1082/2023 (I.A. No. 432/2023) for an extension of time to pay the 1st instalment of pre-deposit which was due on 28.06.2023. The 2nd instalment of pre-deposit is due on 19.07.2023. The period to pay the 1st instalment is extended till 19.07.2023 and the same shall be paid together with the 2nd instalment due on that date.
The Respondent has vehemently opposed the granting of an extension of time. But this Tribunal finds no reason to decline the request for an extension of time.
Issues for consideration
2 issues framed by the court
Whether to grant an extension of time for payment of the first instalment of pre-deposit under Section 17 of the SARFAESI Act.
Whether the respondent bank has any objection valid enough to deny the extension.
Parties & counsel
- appellant
Abhinav Education Society
- respondent
Bank of Baroda
Coram
Ashok Menon
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · June
- CNR
- 271090003322023
- Topic
- Banking and Recovery
All orders in this case
5 orders share this CNR
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