The Tribunal granted a limited extension of time for the appellant to deposit the outstanding balance of the pre-deposit required to maintain the appeal, imposing a schedule and warning of dismissal for default.
Extension granted to pay remaining pre-deposit in two tranches by 14.06.2023 and 28.06.2023; default leads to dismissal of appeal.
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. 321/2023 In Appeal on Dairy No. 470/2023
Between
M/s. VNR Enterprises & Ors. … Appellant/s
V/s.
Authorized officer, Union Bank of India …Respondent/s
Mr. Dhrumit Chauhan, Advocate for Appellant.
Mr. Nainesh Amin, i/b N.N. Amin & Co., Advocate for Respondent.
-: Order dated: 22/05/2023:-
The matter is taken up for hearing by way of a praecipe filed by Appellants for seeking urgent relief. The Appellants were directed to deposit a sum of ₹ 4 crores as pre-deposit vide order dated 12.04.2023 they have already deposited ₹ 2.25 crores towards the pre-deposit and ₹ 1.75 crores is yet to be paid. They were granted three weeks time which expires on 24.05.2023. An application is filed for an extension of time stating that because of the financial strain, they are not able to deposit the entire amount on or before 24.05.2023 and seek an extension of 45 days for paying the amount.
1
more time to pay the balance amount and exercise the jurisdiction u/s 148 of CPC and also u/s. 19 (25) of the RDB Act. The half of ₹ 1.75 crores which is ₹ 87,50,000/- due shall be paid within a period of three weeks from 24.05.2023, on or before 14.06.2023 and the balance shall be paid within two weeks therefrom, on or before 28.06.2023. No further extension will be granted and in default, the appeal shall stand dismissed without any further reference to this Tribunal.
Post on 15.06.2023 for reporting compliance concerning the payment.
Sd/Chairperson
rm-7
2
1 issue framed by the court
Whether the appellant is entitled to an extension of time to deposit the remaining balance of the pre-deposit amount.
2 provisions across 2 enactments
M/s. VNR Enterprises & Ors.
Authorized officer, Union Bank of India
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
