Mr.Sagar S/o Prakash Dalal & Others versus Shriram City Union Finance Ltd.

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr Justice Ashok Menon, Chairperson I.A. No. 59/2023(EoT) In Appeal on Diary No. 1420/2022

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Between

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Sagar S/o Prakash Dalal & Ors. … Appellant/s V/s. Shriram City Union Finance Ltd. …Respondent/s

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Ms Durga Soni, i/b Mr Radhe Agarwal, Advocate for Appellant.

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Ms Aparna D Jagtap, i/b Mrs Uma S. Fadia, Advocate for Respondent.

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-: Order dated: 27/01/2023:-

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By order dated 03.01.2023 the Appellants were directed to pay a predeposit of ₹40 lacs in three equal instalment of ₹13,33,333/- each. The first instalment was due on 24.01.2023. The Appellants have filed this application as I. A No. 59/2023 for extension of time.

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Notice has been served on the Respondents and the Ld. Counsel appearing for the Respondent vehemently opposes the application and seeks time to file a reply also.

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The application has been filed on 23.01.2023 and the Ld. Counsel submits that because there was some other liability also to be cleared, and hence, the Appellants could not raise the amount for payment of pre-deposit and undertakes to pay the deposit of the first instalment together with the second instalment due on 07.02.2023.

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Considering the submission made on either side and exercising

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1

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the jurisdiction of the Tribunal under Sec. 19(25) of the RDB Act, and also under Sec. 148 of the C.P.C. the extension is granted and the Appellants are directed to deposit the first instalment together with the second instalment on or before 07.02.2023.

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Post on 08.02.2023 for reporting compliance as regard payments.

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Sd/Chairperson

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mks-16

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2

Mr.Sagar S/o Prakash Dalal & Others v. Shriram City Union Finance Ltd.

Case brief

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Mr.Sagar S/o Prakash Dalal & Others v. Shriram City Union Finance Ltd.

Case brief

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