S Jayaram Chowdary v. State Bank of India
Case brief
What is this about?
The Appellate Tribunal dismissed a miscellaneous application seeking recall of an order declining appeal due to failure to comply with a High Court's pre-deposit condition. The court held that subsequent deposit does not vitiate the dismissal when it was made outside the stipulated timeline.
What did the court decide?
Misc. Application Diary No. 506 of 2023 dismissed. Connected Misc. Application No. 507 of 2023 and I.A. 301 of 2023 also dismissed as infructuous.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Misc. Application Diary No. 506 of 2023 (Arising out of S.A. 45 of 2021 in DRT-I, Hyderabad)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
25.09.2023 Sudalagunta Jayaram Chowdary & 2 Others … Appellants -VsState Bank of India & 2 Others … Respondents
Mr. TVL Narasimha Rao with Mr. Sreyash Basu Dasgupta, Learned Counsel for Appellants
Mr. Debasish Chakrabarti with Ms. Sharmistha Pal, Learned Counsel Respondent No.1/Bank
THE APPELLATE TRIBUNAL :
The instant Misc. Application is for recall of the order dated 10th July, 2023 filed by the Appellant.
Heard the Learned Counsel for Appellant as well as the Respondent. Perused the record.
An Order was passed on 13th February, 2023 directing the Appellant to make payment of 40% of Rs.64,46,19,344.00 as pre deposit under 2nd Propviso of Section 18 (1) of the SARFAESI Act, 2002. Six weeks’ time was granted to the Appellant. This order was challenged by the Appellant before the Hon’ble High Court for the State of Telangana at Hyderabad by preferring a Writ Petition, being W.P. 7871 of 2023, wherein on 23rd March, 2023 the Hon’ble High Court passed the following order :
Issues for consideration
3 issues framed by the court
Whether the order dated 10th July, 2023 declining the appeal for non-maintenance can be recalled on the ground of subsequent deposit of pre-deposit amount.
Whether the time fixed by the High Court for pre-deposit can be extended by the Appellate Tribunal after the High Court's order was dismissed.
Whether a misc. application for recall of order dismissing appeal for non-compliance of High Court's stay order can be allowed.
Parties & counsel
- appellant
Sudalagunta Jayaram Chowdary & 2 Others
- respondent
State Bank of India & 2 Others
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 191090005062023
- Topic
- Banking and Recovery
All orders in this case
3 orders share this CNR
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