Ms Penguin Textiles Ltd. v. Indian Bank

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

Dy. No. 401 of 2020

(Arising out of SA No. 08 of 2014 in DRT-1, Hyderabad)

THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

29.09.2023 M/s Penguin Textiles Ltd. & Anr. ... Appellants -VsM/s Indian Bank & Ors ……Respondents None for the Appellant Mr. A.K. Dhandhania, Learned Sr. Counsel, Mr. Soumo Mukherjee, Learned Counsel Ms. Sweta Mukherjee, Learned Counsel for the Respondent No. 2 Mr. Rudrajit Sarkar, Learned Counsel for the Respondent No. 3.

THE APPELLATE TRIBUNAL :

Issue of pre deposit in the Appeal was decided on 17^th March, 2023. Feeling aggrieved Appellant preferred the W.P. No. 13507 of 2023 which was partly allowed by the Hon’ble Telangana High Court on 5^th July, 2023. Appellant was directed to make a deposit of 50% of Rs.35,50,00,000/within four weeks. Further, it was directed that if the amount is not deposited before the DRAT within the time granted, the Appeal automatically stands dismissed. It appears that as per the Registry report dated 13.09.2023, compliance of the order of Hon’ble High Court are not made.

2

Thereafter, notices are issued to the Appellants to inform whether the compliance was made or not which was served but neither any information is submitted nor anyone is present which shows that despite notice no reply is submitted by the Appellants. No amount is deposited as pre deposit. Accordingly, in view of the orders of the Hon’ble High Court dated 5^th July, 2023, Appeal automatically stands dismissed.