Atribunal considered an application for extending the deadline to pay a predeposit instalment of 15 lakhs. The court refused a six-week extension, allowing only two weeks, and warned dismissal for non-payment.
Extension of time granted for two weeks to pay the second instalment of 15 lakhs without fail.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 122/2023 (Extension of Time)
In
Appeal on Diary No. 1417/2022
Between
Ganpat G. Khadtare … Appellant/s V/s. HDB Financial Services Ltd. & Anr. …Respondent/s
Mr. Shadad Khan, i/b M/s. A & G Legal Associates LLP, Advocate for Appellant.
Mr. R.L. Motwani, Advocate for Respondent No.1
The matter is taken up for hearing by way of Praecipe filed by the Appellant seeking urgent relief.
The Appellant has filed an application for waiver of predeposit and vide order dated 27.01.2023 this Tribunal directed the Appellant to deposit a sum of ₹ 30 lakhs in two equal instalments.
The first instalment had to be paid within two weeks on or before 10.02.2023 which has been complied with in time. The second instalment was due to be paid on or before 24.02.2023.
The Appellant has filed this application for an extension of time by paying for six weeks to pay the second instalment of ₹ 15 lakhs. Considering the submission made by the Counsel appearing for the Appellant, I find that six weeks' time cannot be granted.
The balance amount of ₹ 15 lakhs shall be paid within a period of two weeks without fail and there shall be no further extension. The Appeal shall stand dismissed in case the payment is not made.
Post on 14.03.2023 for reporting compliance.
Chairperson
psa-05
1
1 issue framed by the court
Whether an extension of time exceeding the standard period is granted for the payment of an instalment of predeposit directed by the Tribunal?
Ganpat G. Khadtare
HDB Financial Services Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
