The DEBTS RECOVERY APPELLATE TRIBUNAL at Mumbai placed an appeal regarding the waiver of pre-depost on further hearing. The court stalled the auction and ordered deposit of the mandatory pre-deposit in term deposits pending reply.
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.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 104/2023 (WoD) In Appeal on Diary No. 230/2023
Between
M/s. Crystal Solvent Pvt. Ltd., A Private Ltd. Co. & Ors.
V/s.
Authorized Officer,
Nagpur Nagrik Sahkar Bank & Anr.
S.N. Fuladi along with U.N. Fuladi & Mr. Radhe Agrawal, Advocate for Appellants.
Mr. Sanjay Anabhawane, i/b M/s. M & S Legal Ventures, Advocate for Respondents.
-: Order dated: 11/04/2023:-
The Ld. Counsel appearing for the Respondent has not filed a reply to the application for waiver of pre-deposit within two weeks as directed and the reply is only being filed today without any application for receiving it.
1
which needs to address.
2
Post on 12.05.2023 for further hearing.
psa-09
Sd/Chairperson
3
3 issues framed by the court
Whether the amount of pre-deposit under the SARFAESI Act can be reduced to 25% given the appellants' financial strain and the existence of a reply by the respondent.
Whether the auction sale scheduled should be stalled pending the determination of the exact amount of pre-deposit.
The conditions for investing a portion of the deposit as directed by the Tribunal.>
1 provisions across 1 enactments
M/s. Crystal Solvent Pvt. Ltd.
Authorized Officer
Nagpur Nagrik Sahkar Bank
Ashok Menon
As recorded by the court registry
5 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
