The DRAT allowed an interim application seeking a stay on recovery proceedings. The tribunal directed the appellants to deposit Rs. 90 lakhs under Section 21 of the RDB Act within four weeks to continue the appeal, otherwise dismissing the appeal.
Appellants directed to deposit Rs. 90 lakhs within four weeks; failure leads to dismissal.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson I.A. No. 363/2022 (WoD)
In Appeal on Diary No. 62/2020
Between
Rajeshwari S/o Kashinath Pathak & Anr. … Appellant/s V/s. IDBI Bank Ltd. & Ors. …Respondent/s Mr. Sachin Koli, Advocate for Respondents.
The Appellants are in appeal impugning the order dated 21.08.2019 in Original Application (O.A) No. 13/2012 on the files of the Debts Recovery Tribunal, Aurangabad (D.R.T.) whereby the O.A. was disposed of with a decree in favour of the bank to be realized from the Appellants by putting to sale the mortgaged the property over which a charge is created.
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the amount to a minimum of 25%. The Ld. Counsel appearing for Respondent submits that as of date the outstanding due inclusive interest which has been awarded by D.R.T. in the O.A. come to ₹1,82,78,299/-. The Appellants are, therefore, directed to deposit a sum of ₹90 lakhs as pre-deposit within the period of four weeks from today, i.e. on or before 06.10.2023. Failing which the appeal stands dismissed without any further reference to this Tribunal. On the payment of the said amount, the Appellant shall be entitled to a stay of the recovery proceedings till the next date of hearing before the bench.
Post on 09.10.2023 for reporting compliance.
psa-22
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1 issue framed by the court
Whether the Appellants must deposit 25% of the decretal amount within four weeks to proceed with the appeal.
1 provisions across 1 enactments
Rajeshwari S/o Kashinath Pathak & Anr.
IDBI Bank Ltd. & Ors.
Ashok Menon
As recorded by the court registry
5 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
