Quarmatic Time Industries v. State Bank of India
What the court decided
A compact analysis
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
I.A. No. 591/2022 (WoD) In Appeal on Diary No. 1113/2022
Between
M/s. Quarmatic Time Industries & Anr. … Appellant/s V/s.
State Bank of India …Respondent/s
Mr Dileep Nevatia, Appellant No.2, present in person. Ms Fatima Lakdawala, Advocate for Respondent.
-: Order dated: 28/02/2023:-
The Respondent has filed a reply which does not give any details regarding the amount outstanding or due from the Appellant as of the date of filing of the appeal. It also does not clarify whether the amount which was deposited by the Appellant before the High Court in the suit that was pending before the High Court before it was transferred to D.R.T. has been adjusted towards the debt or not.
- To arrive at a conclusion regarding the amount that is outstanding to be paid, the above aspects need to be explained. The Appellant appearing in person submits that the decretal amount is ₹ 3,78,453.18 and that he is willing to pay 50% of that amount towards pre-deposit.
Issues for consideration
2 issues framed by the court
Whether the respondent bank can proceed without clarifying the exact outstanding debt and adjustments.
Whether the appellant's partial pre-deposit offer is acceptable without an updated account statement.
Parties & counsel
- appellant
M/s. Quarmatic Time Industries & Anr.
- respondent
State Bank of India
Coram
Ashok Menon
Case details
As recorded by the court registry
All orders in this case
7 orders share this CNR
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