Interim order allowing deposit of ₹1.50 Crore via demand draft. Hearing deferred to 13.11.2023 for orders on waiver and stay application.
Appellants permitted to deposit ₹1.50 Crore; interim order continued; hearing post-13.11.2023.
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. 715/2023 (WoD)
Appeal on Diary No. 1872/2023
Between
M/s. Tuffware Industries & Ors. … Appellant/s
V/s.
Union Bank of India & Anr. …Respondent/s
Mr. Dinesh Purandare along with Mr. Gaurang Kinkhabwala & Mr. Puneet Gogad, i/b Ms. Mumtaz Khan, Advocate for Appellants.
Mr. Rajesh Nagory along with Mr. Ayush Kothari, i/b Mrs. Uma Fadia, Advocate for Respondent No.1
-: Order dated: 02/11/2023:-
Heard both sides.
The Ld. Counsel appearing for the Appellants submits that the ₹ 50 lakhs is being deposited by way of a demand draft. The same shall be accepted.
The Appellants have now deposited a sum of ₹1.50 Crore and both sides were heard in detail and there are certain decisions also relied upon by both sides.
It is also submitted by the Ld. Counsel appearing for the Appellants that no 3rd party interest would be created in the possession of the property by the Appellant.
Post on 13.11.2023 for orders on the waiver and stay application.
Interim order shall continue till the next date of hearing.
Sd/Chairperson
psa-03
1
M/s. Tuffware Industries & Ors.
Union Bank of India & Anr.
Ashok Menon
As recorded by the court registry
3 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
