Paratus Real Estates Pvt. Ltdd. v. Canara Bank
Case brief
What is this about?
Appeal wherein appellant failed to deposit mandatory 25% of debt. Court directed appellant to deposit amount to entertain appeal; otherwise appeal dismissed. List fixed for hearing on waiver.
What did the court decide?
Appellant directed to deposit 25% debt; case listed for waiver hearing.
What the court decided
A compact analysis
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Appeal Dy. No. 1136/2022 Date: 29.05.2023
Paratus Real Estates Pvt. Ltd. Vs. Canara Bank
Present: None for the appellant, Shri Alok Rai, counsel for the respondent-Bank,
Learned counsel for the respondent-Bank submits that he has not been served with the copy of appeal. Learned counsel for the appellant is directed to serve the same upon the counsel for the respondent-Bank within a week, who may file reply by the next date fixed.
In the present case, the appellant has not deposited any amount towards minimum deposit of 25% of the debt due, which is mandatory in nature as per second proviso of section 21 of the said Act. Therefore, the appellant is directed to deposit minimum 25% of the debt determined by the Tribunal below under section 19 of the RDB Act for entertaining the appeal, which is mandatory in nature, by the next date fixed. If the appellant does not deposit the said amount prior to the next date fixed, the appeal shall stand dismissed as not entertainable for want of mandatory pre-deposit without further reference to this court. If the said amount is deposited by the appellant within the time as stipulated above, list this case on 17.08.2023 for hearing on waiver of the rest 25% of the amount due.
Learned counsel for the respondent-Bank undertakes to inform the counsel for the appellant about the order passed today in writing within 48 hours.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
2 issues framed by the court
Whether an appeal is maintainable without depositing 25% of the debt as mandatory pre-condition.
Whether the appeal stands maintainable, dismissed for lack of merit, or remanded for consideration upon fulfillment of pre-deposit requirement.
Parties & counsel
- appellant
Paratus Real Estates Pvt. Ltd.
- respondent
Canara Bank
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
6 orders share this CNR
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