A brief interim order directing the appellant to deposit ₹10 lakhs by a demand draft for the pending appeal. The hearing on the waiver application was scheduled for 10.08.2023.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
I.A. No. 527/2023 (WoD) In
Appeal on Diary No. 1328/2023
Between
Sultan Mohammad Shaikh &Anr.
… Appellant/s
V/s.
DCB Bank &Anr.
…Respondent/s
Mr Mangesh D. Patel, Advocate for Appellants.
Mr Vinay Deshpande, i/b M/s. V. Deshpande & Co., Advocate for Respondents.
-: Order dated: 07/08/2023:-
The Ld. Counsel appearing for the Appellants submits that he will be depositing ₹10 lakhs tomorrow i.e., on 08.08.2023 towards the pre-deposit amount.
The Ld. Counsel appearing for the Respondent Bank submits that as of date there is an outstanding balance of ₹85,34,021/-. The possession is scheduled to take place on 11.08.2023.
The amount of ₹10 lakhs, shall be deposited by way of a Demand Draft in the name of the Registrar of this Tribunal.
The amount as and when deposited, shall be invested in term deposits in the name of Registrar, DRAT, Mumbai, with any nationalised bank, initially for 13 months, and thereafter to be renewed periodically.
Call on 10.08.2023 for a hearing on the waiver application.
Chairperson
mks-8
1
Sultan Mohammad Shaikh
DCB Bank
Ashok Menon
As recorded by the court registry
2 orders share this CNR
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