M Ashwini Kumar and Ors. v. State Bank of India
Case brief
What is this about?
The DRAT condoned a delay of over four years in filing the appeal and held that the Appellant cannot rely on auction proceeds to reduce the pre-deposit.
What did the court decide?
IA No. 105 of 2023 allowed; IA No. 104 of 2023 dismissed; Appellant directed to deposit 50% due amount in four weeks.
What the court decided
+94
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Dy. No. 84 of 2019)
(Arising out of S .A. No. 1304 of 2017 in DRT -II Hyderabad)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
31.03.2023 M. Ashwini Kumar and ors … Appellant -VsState Bank of India & ors Mr. N. Srinivas, Learned Counsel for the Appellant Ms. Saswati Sikder, Learned Counsel for the Respondent Bank Mr. Omkar Ganguly, Learned Counsel for the Respondent No. 10
THE APPELLATE TRIBUNAL :
I.A. No. 105 of 2023 application u/5 of the Limitation Act for condonation of delay in filing the Appeal.
Impugned order was passed on 8th February, 2019. Thereafter, Appellant preferred a Writ Petition before the Hon’ble Hyderabad High Court which was dismissed on 14th March, 2019. Certified copy was provided on 20th March, 2019. Thereafter, Appeal was filed on 3rd April, 2019.
Issues for consideration
2 issues framed by the court
Whether the delayed filing of the appeal requires condonation of limitation under Section 5 of the Limitation Act.
Whether the Appellant can avail of the sale proceeds of secured assets to determine the 'debt due' for the mandatory pre-deposit requirement under Section 18 of the SARFAESI Act.
Parties & counsel
- appellant
M. Ashwini Kumar and ors
- respondent
State Bank of India
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
All orders in this case
11 orders share this CNR
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