Ms Vishal and Vishal v. Punjab National Bank
Case brief
What is this about?
Appellate Tribunal directed appellant to comply with statutory pre-deposit under Section 18 of SARFAESI Act. Unsigned counter-foil rejected. Appeal listed on 02.03.2023 upon compliance.
What did the court decide?
Direction to deposit 50% debt due as pre-deposit. Appeal listed for hearing on 27.02.2023. No coercive steps by respondent bank till 28.02.2023.
What the court decided
1
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA Appeal Dy No. 651 of 2022
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
22.02.2023
M/s. Vishal & Vishal
… Appellant
-Vs-
Punjab National Bank & Ors.
… Respondents Mr. P. Sil, ld. Counsel with Mr. Subhadip Biswas, ld. Counsel with Mr. S. Chakraborty and Ms. P.A. Sharma, ld. Counsel for the appellant. Mr. Debasish Chakraborty, ld. Counsel with Ms. S. Pal, ld. Counsel.
THE APPELLATE TRIBUNAL :
I.A. no. 435 of 2022 is filed by the appellant u/s 5 of the Limitation Act praying for condonation of delay of 22 days in filing the appeal. Impugned order was passed on 23.09.2022 while the appeal was preferred on 23.11.2022.
Issues for consideration
3 issues framed by the court
Whether the appeal can be entertained without compliance of the mandatory 50% pre-deposit requirement under Section 18 of the SARFAESI Act, 2002.
Whether the short-term compliance of pre-deposit by submitting an unsigned counter-foil satisfies the statutory mandate.
Whether the appeal may be listed for hearing after re-direction due to non-compliance.
Parties & counsel
- appellant
M/s. Vishal & Vishal
- respondent
Punjab National Bank & Ors.
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
All orders in this case
7 orders share this CNR
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