Messers Maruthi Agencies v. Lakshmi Vilas Bank and Anr.
Case brief
What is this about?
The Appellate Tribunal rejected Maruthi Agencies' appeal against an arbitral award on Lakshmi Vilas Bank for non-compliance with a conditional order requiring a security deposit on or before 15.9.2023.
What did the court decide?
Appeal consequently dismissed for non-compliance of deposit requirement.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 155/2023 in
A.IR:454/2022
Maruthi Agencies V/S A.O.,Lakshmi Vilas Bank &Anr
25/09/2023
This appeal is coming up today for reporting compliance of statutory deposit.
As per conditional order dated 1.9.2023 passed in IA 155/2023 (Waiver), appellant shall deposit a sum of Rs.35,53,179/- on or before 15.9.2023 and failure to deposit the same would result in dismissal of appeal.
Today there is no representation for appellant and according to Registry no amount is deposited till today. Therefore, conditional order is not complied with.
Hence, Appeal AIR (SA) 454/2022 is rejected, by giving effect to order dated 1.9.2023 for non compliance of statutory deposit.
Chairperson
Sd/-
Issues for consideration
1 issue framed by the court
Whether the appeal shall be dismissed for non-compliance of the statutory deposit order.
Parties & counsel
- appellant
Maruthi Agencies
- respondent
A.O., Lakshmi Vilas Bank & Anr.
Coram
Chairperson
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 331090004542022
- Topic
- Banking and Recovery
All orders in this case
18 orders share this CNR
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