Gada Uma Lavanya v. Bank of India
Case brief
What is this about?
The Appellate Tribunal allowed the condonation of delay in filing the appeal and disposed of the application for waiver of pre-deposit under Section 18 of the SARFAESI Act, directing the appellant to deposit 50% of the dues within six weeks.
What did the court decide?
I.A. 98 of 2023 for condonation of delay allowed. I.A. 99 of 2023 for waiver of pre-deposit disposed with direction to deposit 50% of Rs.9.50 crore within six weeks.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Diary No. 138 of 2023
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
05.09.2023 Smt. Gada Uma Lavanya … Appellant -VsBank of India & 2 Others … Respondents
Mr. Nemani Srinivas, Learned Counsel for the Appellant
Ms. Anindita Das, Counsel for Respondent No. 1/Bank
THE APPELLATE TRIBUNAL :
I.A. 98 of 2023
Application, under Section 5 of the Limitation Act, for condonation of 45 days delay in filing the appeal.
Opposition filed by Respondent Bank is taken on record.
Learned Counsel submits that delay was not intentional and was caused due to submission of on-line fee apart from some technical difficulties.
Issues for consideration
3 issues framed by the court
Whether the delay in filing the appeal should be condoned under Section 5 of the Limitation Act.
Whether the appellant qualifies for a waiver of the pre-deposit requirement under Section 18(1) of the SARFAESI Act.
What amount is to be considered as debt due for calculating the mandatory pre-deposit percentage under Section 18 of the SARFAESI Act.
Parties & counsel
- appellant
Gada Uma Lavanya
- respondent
Bank of India
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 191090001382023
- Topic
- Banking and Recovery
All orders in this case
7 orders share this CNR
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