The Tribunal considered an application seeking waiver of pre-deposit under Section 21 of the Recovery of Debts and Bankruptcy Act, 1993. The bank counsel submitted that statutory provisions are mandatory.
The application for waiver of pre-deposit was disposed of; the appellant was directed to deposit 50% of the claimed amount within four weeks.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Diary No. 423 of 2023
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
09.08.2023 Rajneesh Soti … Appellant -VsUCO Bank & 6 Others … Respondents Mr. Surya Prasad Chattopadhyay with Mr. Arjun Samanta and Mr. Ankit Chatterjee, Learned Counsel for Appellant
Mr. S.N. Patra Bhatta, Learned Counsel for Respondent No.1/ Bank
THE APPELLATE TRIBUNAL :
I.A. 260 of 2023
This is an application praying for waiver from making pre-deposit under Section 21 of the 1993 Act.
The impugned order was passed in O.A. 08 of 2014 on 12th March, 20212 wherein certificate for Rs.63,03,662.95p was issued with pendent lite and future interest at the rate of 10% per annum.
Learned Counsel for Respondent Bank submits that as on date amount of Rs.1,40,36,047.00 is due inclusive of interest.
Provisions of Section 21 of the Recovery of Debts And Bankruptcy Act are mandatory. Appeal cannot be entertained without making pre deposit.
Accordingly, Appellant is directed to deposit 50% of Rs.1,40,36,047.00 within four weeks. Accordingly, waiver application, being I.A. 260 of 2023, is disposed of.
List on 19th September, 2023 for further orders.
(Anil Kumar Srivastava,J) Chairperson
Dated 09th August, 2023 03/ac
2 issues framed by the court
Whether the appellant is required to make a pre-deposit under Section 21 of the Recovery of Debts and Bankruptcy Act prior to entertaining the appeal.
Whether the application for waiver of pre-deposit should be allowed.
1 provisions across 1 enactments
Rajneesh Soti
UCO Bank
Anil Kumar Srivastava
As recorded by the court registry
7 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
