Partly allowed
Soumen Chakraborty v. Aditya Birla Finance Ltd. and Ors.
DRATREGULAR APPEAL/31/2023
Case brief
AI extract
What is this about?
The Debt Recovery Appellate Tribunal at Kolkata allowed an application for waiver of pre-deposit under Section 18(1) of the SARFAESI Act. The chairperson found the ground sufficient as the applicant, being a promoter who issued a bounced cheque but retained possession, was neither the borrower nor the guarantor involved in the SARFAESI action.
What did the court decide?
Application I.A. No. 38 of 2022 seeking waiver of pre-deposit under Section 18(1) of the SARFAESI Act was allowed.