M/s. K K Associates v. State Bank of India
Case brief
What is this about?
Appearing in an appeal where the appellant was required to deposit a pre-sum, with a balance of ₹44.78 lakhs outstanding following a previous extension, the Tribunal granted a final opportunity. The appellant submitted ₹5 lakhs at the hearing; the Tribunal ordered the balance be paid within a week, directed reporting compliance on 06.02.2023, and stated this as the final adjournment before dismiss
What did the court decide?
Balance amount to be paid within one week; to report compliance on 06.02.2023; final adjournment granted.
What the court decided
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr Justice Ashok Menon, Chairperson
I.A. No. 58/2023(EoT) In Appeal on Diary No. 568/2021
Ms Sanjana Goghare, Advocate for Appellant. Mr Shinde, i/b Mr Vivek Sawant, Advocate for Respondent Bank.
-: Order dated: 27/01/2023:-
The Appellant was to deposit a sum of ₹1.5 crores as pre-deposit towards which the Appellant has already paid ₹1.05 crores and there is still a balance of ₹44,78, 500/- to be paid. for which, the Appellant had filed I.A. No 462/2022 for an extension of time and five weeks’ time was granted to pay the said balance and it was specifically made clear that no further extension of time would be granted and the Appeal would be dismissed without any further reference to this Tribunal.
- The Ld. Counsel appearing for the Appellant seeks further indulgence by submitting that the Appellant was able to gather only ₹5 lacs today and for which a demand draft is ready and for the balance, a further two weeks’ time is sought.
- Considering the fact that the Appellant is paying ₹5 lacs today
1
by way of a demand draft, the balance amount shall be paid within a week. This is the final adjournment granted for payment.
Issues for consideration
2 issues framed by the court
Whether to grant a further two weeks' extension for payment of the balance pre-deposit of ₹44,78,500/-.
How to dispose of the application seeking extension of time to pay the balance amount.
Parties & counsel
- appellant
Appellant
- respondent
Bank
Coram
Ashok Menon
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 — this page · Ashok Menon
- Order 2 · Ashok Menon
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