Allowed

Vyom Infra v. Catholic Syrian Bank Limited

DRAT13 Feb 2023REGULAR APPEAL/24/2023

Case brief

AI extract

What is this about?

The Debts Recovery Appellate Tribunal at Kolkata condoned a delay in filing an appeal and allowed a waiver from pre-deposit. The court found sufficient explanation for the delay and noted the appellant had already deposited over 50% of the dues via a previous appeal.

What did the court decide?

IA 90 of 2020 allowing condonation of delay allowed; IA 516 of 2019 for waiver of pre-deposit allowed.

Vyom Infra versus Catholic Syrian Bank Limited — Execution and Attachment | DRAT (2023)

¶1

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

¶2

Appeal Dy No. 185 of 2019

¶3

(Arising out of SA 73 of 2019 in DRT-1 Hyderabad)

¶4

THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

13.02.2023

M/s. Vyom Infra

… Appellant

-Vs-

The Catholic Syrian Bank Ltd. & Ors.

¶10

… Respondents

¶11

Mr. N. Srinivas, ld. Counsel for the appellant. None for the respondent.

¶12

THE APPELLATE TRIBUNAL :

¶13

An application is filed by the appellant u/s 5 of the Limitation Act praying for condonation of one day delay in filing the appeal. Learned counsel for the appellant submits that delay has occurred for obtaining certified copy of the order impugned and for collecting cause papers.

¶14

None appears for the respondent.

¶15

Having considered the submission made by the learned counsel for the appellant and going through the record, I find that ground explained in the I.A. to be sufficient. Hence, I.A. 90 of 2020 is allowed. Delay is condoned.

¶16

I.A. 516 of 2019 is filed by the appellant u/s 18(1) of the SARFAESI Act praying for waiver from making pre-deposit. Learned counsel for the appellant submits that Appeal Dy. No. 150 of 2020 was filed by the same party challenging same demand notice dated 26.10.2016 wherein demanded due is Rs.1,87,26,407.50. Learned counsel further submits that post issuance of demand notice, Rs.1,61,93,385/- was deposited by the appellant to respondent no.1 bank which is evident from the bank receipt annexed at pages 197 to 215 of the Volume II of the Paper Book. Learned counsel also submits that appellant is not claiming the amount which was received by the bank from auction sale proceeds.

¶17

None appears for the respondent.

¶18

Having considered the submission made by the learned counsel for the appellant and gone through the records I find that an amount equivalent to more than 50 per cent of the debt duetras01 has already been deposited by the appellant. Hence, I.A. 516 of 2019 is allowed.

¶19

Appeal be registered and regular appeal number be provided.

¶20

Fresh notice be issued upon the respondent. Affidavit of service be filed within two weeks. Opposition be filed by the respondents within four weeks with advance copy to the appellant who may file rejoinder within two weeks thereafter.

¶21

List on 21.04.2023 for hearing the appeal.

¶22

(Anil Kumar Srivastava,J) Chairperson

¶23

Dated: 13 February, 2023 02/pkb

Vyom Infra v. Catholic Syrian Bank Limited

Case brief

What is this about?

What did the court decide?

Vyom Infra v. Catholic Syrian Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Smt N Deepa versus Union Bank of India

National Commodities Mangt. versus Union Bank of India

National Commodities Mangt. versus Union Bank of India

Bank of Baroda versus Ms S R Nirman Pvt. Ltd. and Anr.

Shankar Sharma versus Corporation Bank and Ors.

Juloori Veereshalingam Ch Trst versus the Registrar Drt 1 Hyderabad and Ors.