The Delhi DRAT directed the Appellants to deposit ₹ 2 lakhs as mandatory pre-deposit under Section 21 of the RDDB & FI Act to entertain the appeal, as they conceded the amount and claimed financial strain.
Direction to deposit ₹ 2 lakhs in the form of a Demand Draft with the Registrar by 25.04.2023.
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. 591/2022 (WoD) In Appeal on Diary No. 1113/2022
Between
M/s. Quarmatic Time Industries & Anr. … Appellant/s V/s. State Bank of India & Anr. …Respondent/s
The second Appellant present in person.
Mr. Devesh Dhange, i/b Ms. Fatima Lakadawala, Advocate for Respondent No.1
This is an application filed by the firm and its partners who are aggrieved by the judgment and order in Original Application (O.A.) No. 258/2001 on the files of Debts Recovery Tribunal-II, Mumbai dated 18.08.2022 allowing the O.A. and directing the defendant therein to pay the sum of ₹ 3,78,453.18/- together the interest @ 13.5% per annum with quarterly rests. The Appellants seek to waive the mandatory pre-deposit required to be made u/s 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (“RDDB & FI Act” for short).
1
Post on 26.04.2023 for reporting regarding the compliance of payment.
Chairperson
psa-11
2
1 issue framed by the court
Whether the Appellants can be directed to deposit a mandatory pre-sum to entertain the appeal.
1 provisions across 1 enactments
M/s. Quarmatic Time Industries & Anr.
State Bank of India & 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
