An application was filed seeking an extension of time to deposit the balance amount of ₹5 lakhs towards the predeposit directed u/s. 18(1) of the SARFAESI Act. The Tribunal granted the extension.
Extension of time granted to pay the balance amount of ₹5 lakhs within 10 days from the date of the order.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
I.A. No. 339/2023 In
Appeal on Diary No. 586/2023 Between
Jalaluddin Mumtaz Hussain Sayed & Anr. V/s.
HDB Financial Service Ltd.
… Appellant/s
…Respondent/s
Mr. Dheeraj Dubey, along with Mr. Ram Upadhyay, i/b M/s. Law Competere Consultus, Advocate for Appellants.
-: Order dated: 30/05/2023:-
As per the order of this Tribunal dated 01.05.2023. The Appellants were directed to deposit a sum of ₹ 40 lakhs as predeposit u/s. 18 (1) of the SARFAESI Act in two equal instalments. The Appellants have paid ₹ 20 lakhs within the stipulated time and towards payment of the second instalment of ₹ 20 lakhs they paid ₹ 14,04,000/-. For payment of the balance amount, the Appellants seek an extension of time.
An application has been filed for an extension of time to comply with the direction of this Tribunal. In view of the fact that the Appellants have made earnest attempts to deposit the amount which was directed to be paid, an extension of time is granted and the balance amount of ₹ 5 lakhs shall be paid within a period of 10 days from today.
Post on 09.06.2023 for reporting compliance.
Sd/Chairperson
rm-6
1
1 issue framed by the court
Whether the appellants can be granted an extension of time to pay the balance amount of the predeposit towards the impugned order.
1 provisions across 1 enactments
Jalaluddin Mumtaz Hussain Sayed & Anr.
HDB Financial Service Ltd.
Ashok Menon
As recorded by the court registry
5 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
