The Debt Recovery Appellate Tribunal restored an appeal dismissed for non-payment of pre-deposit upon the appellant producing the full remaining amount as ordered, accepting it out of time amidst pending sale proceedings.
The appeal was restored and the balance pre-deposit amount was accepted.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson (M.A. No. 50/2023 (Restoration) In
(Appeal on Diary No.381/2023-Disposed off)
And
I.A. No. 406/2023(Extension of Time)
In
Appeal on Diary No.381/2023
Between
Dinesh Gandaji Lakhvara & Ors. … Appellant/s
V/s.
A.U. Small Finance Bank Ltd. & Ors. …Respondent/s
Akshita P., i/b M/s. Agarwal & Associates, Advocate for the Appellant.
Ms. Sanjay Anabhawane, i/b M/s. M & S Legal Ventures, Advocate for the Respondent.
-: Order dated: 23/06/2023:-
The Ld. Counsel appearing for the Respondent Bank has filed a reply to the application stating that in view of the dismissal of the appeal the possession of the secured property has already been taken and it is now scheduled to be sold in public auction on 19.07.2023.
The sale notice has been published.
M.A. 50/2023 is an application for restoration of appeal which was dismissed for non-payment of the 2nd and the 3rd instalment of pre-deposit. The Appellant has also filed I.A. 406/2023 for an extension of time to pay the pre-deposit amount.
1
The total amount of pre-deposit directed to be paid was ₹ 8,00,000/- out of which ₹ 2,00,000/- was paid immediately on the date of order on 15.03.2023. The balance of ₹ 6,00,000/- was directed to be paid in two equal instalments of ₹ 3,00,000/- each. The first instalment was due to be paid on 29.03.2023 and the second instalment was due on 13.04.2023. The Appellant is producing a cheque of ₹ 6,00,000/- today.
In view of this, the appeal is restored and the pre-deposit amount is accepted out of time
The Ld. Counsel appearing for the Appellant submits that the Appellants are willing to pay the entire outstanding amount before the sale takes place. Considering the fact, that the entire pre-deposit amount has been paid out of time.
The appeal is restored to file and the appeal shall be taken on
file if there are no other defects to be cured. Post on 10.07.2023 before Registrar.
Sd/Chairperson
rm-25
2
1 issue framed by the court
Whether to restore the dismissed appeal upon the late payment of the balance pre-deposit amount.
Dinesh Gandaji Lakhvara & Ors.
A.U. Small Finance Bank Ltd. & Ors.
Ashok Menon
As recorded by the court registry
6 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
