The Tribunal directed the appellant to deposit ₹15 lakhs in three equal instalments to obtain a stay on the handing over of possession of the secured asset. Failure to comply will result in dismissal of the appeal.
Direction to deposit ₹15 lakhs in three instalments for stay of handing over possession.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 25/2023 (WoD)
In Appeal on Diary No. 1436/2022
Between
M/s. Apex India Company & Ors. … Appellant/s V/s. Indian Bank & Anr. …Respondent/s
Mr. Radhe Agrawal, Advocate for Appellant.
Mr. Shashikant Gaikwad, i/b Mr. Karan Sachdev, Advocate for Respondent No.2
The matter is taken up for hearing by way of Praecipe filed by the Appellant for seeking urgent relief.
The Ld. Counsel appearing for Respondent seeks further time for hearing on the application for waiver of deposit.
1
is due from the Appellant as of the date of filing of the appeal. The Appellant had already received the notice for handing over the possession of the property and hence, the urgency.
Post on 06.04.2023 for reporting regarding the compliance and for further hearing on the application for waiver of pre-deposit.
Sd/Chairperson
psa-09
2
2 issues framed by the court
Whether a waiver of pre-deposit requirement is granted for the stay of auction sale and handing over of possession.
Whether the appellant is directed to deposit the dues in equal instalments.
M/s. Apex India Company & Ors.
Indian Bank & Anr.
Ashok Menon
As recorded by the court registry
5 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
