Ghosh Brothers Electonics P Ltd. v. Idbi Bank
Case brief
What is this about?
This court allowed an application for condonation of delay in filing the appeal under the Limitation Act. Subsequently, it dismissed an application for waiver of the pre-deposit under Section 21 of the RDDBFI Act and directed the appellant to deposit 50% of the debt due.
What did the court decide?
IA for condonation of delay allowed. IA for waiver of pre-deposit dismissed. Direction to deposit 50% of debt due within eight weeks.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Dy. No.178 of 2020)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
17.02.2023 M/s Ghosh Brothers Electronics Pvt. Ltd. and ors … Appellant -VsIDBI Bank Ltd. ….Respondents Mr. Sanjay Mitra, Learned Counsel Mr. V. Acharya, Learned Counsel for the Appellant Mr. Debasish Chakrabarty, Learned Counsel, Ms. Sarmistha Pal, Learned Counsel for the Respondent
THE APPELLATE TRIBUNAL :
Heard the Learned Counsel for the Appellant in I.A. 179 of 2020. Application for condonation of delay under Section 5 of the Limitation Act. Objection is filed by the Respondent. Heard the Learned Counsel for the parties. Learned Counsel for the Appellant submits that due to the fault of the Learned Counsel in the DRT, Appeal could not be prepared and filed in time. It is further submitted that the Learned Counsel did not inform the Appellant regarding the impugned order. Thereafter even the brief was not handed over. He took time to file the Appeal.
I have gone through the record. I found the ground to be sufficient. Accordingly, I.A. No. 179 of 2020 is allowed
2
Issues for consideration
2 issues framed by the court
Whether the appellant is entitled to a waiver from making the pre-deposit under Section 21 of the RDDBFI Act in appeal against the DRT order.
Whether the DRAT has the discretion to reduce the pre-deposit percentage below the statutory minimum under Section 18 of the SARFAESI Act.
Parties & counsel
- appellant
M/s Ghosh Brothers Electronics Pvt. Ltd. and ors
- respondent
IDBI Bank Ltd.
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · February
- CNR
- 191090001782020
- Topic
- Banking and Recovery
All orders in this case
6 orders share this CNR
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