M/s Nilkanth Cotton Fibers v. Bank of Baroda
Case brief
What is this about?
The Appellate Tribunal adjourned the interim application in a SARFAESI Act appeal because the Respondent Bank had only produced an uncertified statement. The Court directed the Bank to submit a certified account statement to determine the threshold for the mandatory pre-deposit.
What did the court decide?
Production of a certified account statement by the Respondent Bank to determine the pre-deposit threshold.
What the court decided
A compact analysis
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
I.A. No. 72/2023(WoD)
In
Appeal on Dairy No. 88/2023
Between
M/s. Nilkanth Cotton Fibers & Ors. … Appellant/s
V/s.
The Authorised Officer, Bank of Baroda & Ors. …Respondent/s Mr. A. R. Gupta, along with Ms, Neeta Pandit, i/b M/s. A.R. Gupta & Associates, Advocate for Appellant.
Mr A.R. Bamne, i/b M/s. A.R. Bamne & Co., Advocate for Respondents.
-: Order dated: 21/02/2023:-
The account statement which is produced by the Respondent Bank together with the reply is not a certified account statement and the Ld. Counsel for the Appellant has opposed the correctness of that statement.
Issues for consideration
1 issue framed by the court
Whether the Appellant is required to make a pre-deposit under s. 18(1) of the SARFAESI Act without a certified account statement regarding the outstanding amount.
Parties & counsel
- appellant
M/s. Nilkanth Cotton Fibers & Ors.
- respondent
The Authorised Officer, Bank of Baroda & Ors.
Coram
Ashok Menon
Case details
As recorded by the court registry
All orders in this case
4 orders share this CNR
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