The Debt Recovery Appellate Tribunal rejected the appeal due to non-compliance of a conditional order mandating a statutory deposit. The applicant failed to deposit the required funds and no stay was obtained from the High Court.
Appeal AIR 127/2022 rejected for non-compliance of statutory deposit order.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 17th day of April, 2023
PRESENT: HON'BLE MR. JUSTICE S.RAVI KUMAR CHAIRPERSON
AIR 127/2022
(IA 1318/2022 in SA 347/2022 on the file of DRT, Coimbatore)
Between
M. Elangovan, S/o Maniyazhaagan, D.No.1/173-15/1, Sri Karthick Nagar, Nattamangalam, Navapatti, Salem 636 452.
…Appellant
And
The Authorised Officer, Fullerton India Home Finance Company Limited, Megh Towers, 3rd Floor, Old No.307, New No.165, Poonamalle High Road, Maduravoyal, Chennai 600 095.
…Respondent
Counsel for Appellant : M/s M. Saravanakumar & Co. Counsel for Respondent : M/s V. Balasubramani & Co.
1
ORDER
This appeal is coming up today for reporting compliance of statutory deposit.
As per conditional order dated 29.3.2023 passed in IA 230/2022 (Waiver), appellant shall deposit a sum of Rs.8,19,737/- on or before 13.4.2023 and failure to deposit the same would result in dismissal of appeal.
Today Ld. Counsel for appellant submitted that money is not deposited and filed a memo stating that appellant has filed a Writ Petition before Hon’ble High Court of Madras against order of this Tribunal and requested for further time. However, no stay order is produced and as it is a conditional order, request for further time is refused.
Therefore, Appeal AIR 127/2022 is rejected, by giving effect to order dated 29.3.2023 for non compliance of statutory deposit.
2
M. Elangovan
The Authorised Officer, Fullerton India Home Finance Company Limited
S. Ravi Kumar
As recorded by the court registry
15 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
