M/S Omker Rice Mill Mini v. Indian Bank
Case brief
What is this about?
The Debt Recovery Appellate Tribunal denied a request for waiver of pre-deposit under Section 18 of the SARFAESI Act. The tribunal directed the appellant to deposit 50% of the claimed debt amount within ten days to admit the appeal against the DRT order, citing Supreme Court precedents on jurisdictional bars.
What did the court decide?
Prayer for waiver of pre-deposit rejected; appellant directed to deposit 50% of the claimed debt amount within ten days.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Misc. Appeal Diary No. 440 of 2023
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
07.08.2023 M/s. Omkar Rice Mill (Mini) & 3 Others … Appellants -VsIndian Bank & 3 Others … Respondents Mr. Dwaipan Banerjee with Mr. Abiir Das, Learned Counsel for Appellants
Mr. Shiv Mangal Singh with Ms. Madhuparna Ghosh, Learned Counsel for Respondents No. 1 and 2/Bank
THE APPELLATE TRIBUNAL :
For Admission
I.A. 289 of 2023
This is an application under Proviso 2 of Section 18 (1) of the SARFAESI Act 2002 praying for waiver from making pre-deposit.
Heard the Learned Counsel for the parties and perused the record.
Appellant has challenged order dated 28th June, 2023 passed by the Learned DRT-II, Kolkata.
Issues for consideration
2 issues framed by the court
Whether pre-deposit under Section 18 of SARFAESI Act must be paid to admit an appeal challenging a DRT order.
Whether the 50% deposit can be waived for an appellant challenging the actions of the secured creditor.
Parties & counsel
- appellant
M/s. Omkar Rice Mill (Mini) & 3 Others
- respondent
Indian Bank & 3 Others
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · August
- CNR
- 191090004402023
- Topic
- Banking and Recovery
All orders in this case
5 orders share this CNR
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