M/s. V.K.S. Agro Foods Hi-Tech Rice Industry v. Idbi Bank
Case brief
What is this about?
The tribunal granted a four-week extension of time for the appellant to deposit the requisite amount, post-dating the matter for compliance.
What the court decided
A compact analysis
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 505/2022 in A.IR:356/2022
M/S V.K.S.Agro Foods Hi Tech Rice Industries V/S Idbi Bank Ltd &Anr
25/09/2023
IA 366/2023 (Extension of time):
This matter is coming up today for compliance of pre deposit of Rs.2,06,43,469/as per Common Order of this Tribunal dated 5.9.2023 passed in IA 505/2022 (Waiver) in AIR (SA) 356/2022, IA 506/2022 (Waiver) in AIR (SA) 357/2022 and IA 507/2022 (Waiver) in AIR (SA) 358/2022.
Advocate for petitioner/appellant represented that money could not be mobilized and for that reason a separate petition is filed seeking extension of time and requested four weeks further time to pay the amount.
For the reasons stated in the affidavit filed in support of the petition, fours weeks time is granted, as prayed for, to pay the amount i.e., till 23.10.2023.
Application IA 366/2023 (Extension of time) is ordered, accordingly.
IA 505/2022 (Waiver):
Parties & counsel
- appellant
M/S V.K.S.Agro Foods Hi Tech Rice Industries
- respondent
Idbi Bank Ltd & Anr
Coram
Chairperson
Case details
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