M/s. V.K.S. Agro Foods Hi-Tech Rice Industry v. Idbi Bank
Case brief
What is this about?
The tribunal granted an extension of time to the applicant to pay the pre-deposit amount till 23.10.2023, allowing for mobility of funds.
What did the court decide?
Extension of time of four weeks granted for payment of pre-deposit amount.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 506/2022 in A.IR:357/2022
M/S V.K.S.Agro Foods Hi Tech Rice Industries V/S Idbi Bank Ltd &Anr
25/09/2023
IA 367/2023 (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.
IA 506/2022 (Waiver):
Application IA 367/2023 (Extension of time) is ordered, accordingly.
Parties & counsel
- applicant
M/S V.K.S.Agro Foods Hi Tech Rice Industries
- respondent
Idbi Bank Ltd
- respondent
Anr
Coram
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 331090003572022
- Topic
- Banking and Recovery
All orders in this case
19 orders share this CNR
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