M/s. V.K.S. Agro Foods Hi-Tech Rice Industry v. Idbi Bank
Case brief
What is this about?
The Debt Recovery Appellate Tribunal at Chennai heard an appeal regarding compliance of a statutory deposit. The appellant failed to comply with an extended deadline and no new application was filed. The appeal was dismissed due to non-compliance.
What did the court decide?
AIR (SA) 357/2022 is rejected for non-compliance of statutory deposit orders dated 5.9.2023 and 25.9.2023.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 30th day of October, 2023
PRESENT: HON'BLE MR. JUSTICE S.RAVI KUMAR CHAIRPERSON
AIR(SA) 357/2022
(SA 250/2020 on the file of DRT, Coimbatore)
Between
M/s V.K.S. Agro Foods Hi-Tech Rice Industry, Rep. by its Partner Mr. S. Dhanavel, Vellottamparappu,
Nadupalayam, Erode 638 154.
…Appellant
And
- M/s IDBI Ltd. Rep. by its Authorised Officer, No.66, Aanoor Amman Complex, Sathy Main Road, Erode 638 003.
- M/s SKM Animal Feeds and Foods (India) Private Limited, Rep. by its Managing Director ,Dr. M. Chandrasekar, Chavadipalayampudur Road, Nanjai Uthukuli, Modakurichi, Erode 638 014.
Issues for consideration
1 issue framed by the court
Whether to grant further extension of time for statutory deposit after an appeal is pending.
Parties & counsel
- appellant
M/s V.K.S. Agro Foods Hi-Tech Rice Industry
- respondent
M/s IDBI Ltd.
- respondent
M/s SKM Animal Feeds and Foods (India) Private Limited
Coram
Case details
As recorded by the court registry
All orders in this case
19 orders share this CNR
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