A K Jaya Prakash v. Bank of India
Case brief
What is this about?
The Debt Recovery Appellate Tribunal at Chennai appertained an appeal for failure by the appellants to deposit the required sum by the stipulated deadline, leading to rejection.
What did the court decide?
The Appeal A.IR:346/2022 is rejected for non-compliance of the Order dated 18.04.2023 regarding mandatory deposit under Section 18(1) of SARFAESI Act, 2002.
What the court decided
A compact analysis
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 417/2022 In A.IR:346/2022
A.K.Jaya Prakash & Ors V/S A.O.,Bank Of India
03/05/2023
This Appeal is coming up for statutory deposit. As per the conditional Order dated 18.04.2023, Appellants shall deposit Rs.2,88,78,390/-, on or before 02.05.2023 and failure to deposit of said amount would result in rejection of the Appeal.
Today, Counsel for Appellants submitted that money is not deposited and sought further time. As it is a conditional Order, request for further time is refused. Hence, the Appeal A.IR:346/2022 is rejected for non compliance of Order dated 18.04.2023, namely deposit required under Section 18(1) of SARFAESI Act, 2002. All pending IAs, if any, stand closed.
Sd/Chair Person
Parties & counsel
- appellant
A.K. Jaya Prakash & Ors.
- respondent
A.O., Bank Of India
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · May
- CNR
- 331090003462022
- Topic
- Banking and Recovery
All orders in this case
14 orders share this CNR
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