No appeal entertained lacking mandatory 25% pre-debit. Appellant directed to deposit by next date or appeal dismissed. Case listed for waiver hearing if deposit made.
Appellant directed to deposit minimum 25% debt or appeal dismissed; case listed for waiver hearing if deposited.
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Regular Appeal No. 169/2018 Date: 18.01.2023
M/s CTS Management Services Pvt. Ltd. Vs. ICICI Bank Ltd.
Present: Shri Rahul Mishra, Advocate holding brief of Shri Rakesh Mishra, counsel for the appellant, Shri Mahendra Kumar, Advocate holding brief of Shri V. K. Pandey, counsel for the respondent-Bank,
The office report dated 17.01.2023 shows that no reply to the waiver application has been filed by the respondentBank nor any pre-deposit has been made by the appellant.
The present appeal has been filed under section 20 of the RDB Act, 1993 against the judgment and decree dated 02.07.2018 passed by the Tribunal below in O.A. No. 376 of 2013, whereby an amount of Rs. 1,89,82,883.73 along with interest and costs was awarded against the appellant. As per section 21 of the said Act, no appeal shall be entertained by the Appellate Tribunal unless the borrower has deposited with the Appellate Tribunal 50% of the amount of debt so due from him, as determined by the Tribunal under section 19. Further, the second proviso of the said section says that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the amount to be deposited by such amount which shall not be less than 25% of the amount of such debt so due to be deposited under this section.
In the present case, the appellant has not deposited any amount towards minimum deposit of 25% of the debt due as determined by the Tribunal below, which is mandatory in nature in view of the second proviso of section 20 of the RDB Act.
In view of the aforesaid, the appellant is directed to deposit minimum 25% of the debt due as determined by the Tribunal below, 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 stipulated period, list this case on 24.04.2023 for hearing on waiver of the rest 25% of the amount due.
Justice R. D. Khare Chairperson
Anupam
2 issues framed by the court
Whether appeal be entertained without mandatory pre-deposit under Section 20 of RD Act 1993
Whether second proviso of Section 20 allows reduction of pre-deposit when mandatory deposit not made
1 provisions across 1 enactments
M/s CTS Management Services Pvt. Ltd.
ICICI Bank Ltd.
R. D. Khare
As recorded by the court registry
4 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
