A K Jaya Prakash v. Bank of India
Case brief
What is this about?
The Debt Recovery Appellate Tribunal rejected the appellant's appeal for non-compliance with a conditional order. The appellants failed to deposit the mandated security amount of Rs. 2,88,78,390/- under Section 18(1) of the SARFAESI Act by the specified deadline, resulting in the rejection of the appeal.
What did the court decide?
Impugned appeal rejected for non-compliance of conditional order requiring security deposit.
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 3rd of May, 2023
PRESENT: HON'BLE JUSTICE S. RAVI KUMAR CHAIRPERSON
A.IR (SA) : 346/2022
(SA 820/2022 on the file of DRT, Coimbatore)
Between
- A.K. Jaya Prakash,
M/s. Siva Mills Partners,
56/1, Thiru Nagar, Parapalayam Extn., Mangalam Road,
Tirupur- 641 604.
- Mrs. A. K. Rathamani, (Guarantor), W/o Late Kittusamy, 56/1, Thiru Nagar, Parapalayam Extn., Mangalam Road,
Tirupur- 641 604.
Issues for consideration
1 issue framed by the court
Whether the Appeal filed under Section 17 of the SARFAESI Act should be rejected for non-deposit of the required security amount within the stipulated time.
Parties & counsel
- appellant
A.K. Jaya Prakash and Others
- respondent
The Authorised Officer, Bank of India
Coram
S. RAVI KUMAR
Case details
As recorded by the court registry
All orders in this case
14 orders share this CNR
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