The Tribunal allowed an interim application for waiver of pre-deposit under Section 21 of the RDB Act, holding that it is not required while the underlying order is pending and debt is undetermined, and listed for further hearing.
Application for waiver of pre-deposit allowed; Appeal registered for regular hearing.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Diary No. 577 of 2022)
(Arising out of O.A. No. 803 of 2015 in DRT -1 Hyderabad)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
22.03.2023
M/s Sri Srinivasa & Co. & Anr … Appellant -VsIDBI Bank Ltd. ….Respondents Mr. N. Srinivas, Learned Counsel for the Appellant Ms. Suchita Sharma, Learned Counsel Ms. Sanjukta Singh, Learned Counsel for the Respondent
THE APPELLATE TRIBUNAL :
I.A. No. 386 of 2022 Application for waiver from making pre deposit under Section 21 of the RDB Act. Learned Counsel for the Appellant submits that this is an Appeal against an order for attachment before judgment passed in the O.A. wherein debt due is yet to be determined. Accordingly, he is not liable for making pre deposit.
Heard the Learned Counsel for the parties and perused the record.
O.A. is still pending and debt is yet to be determined. Accordingly, at this stage pre deposit is not required under Section 21 of the RDB Act. Accordingly, I.A. No. 386 of 2022 stands allowed. Let the Appeal be registered as regular appeal by providing a regular appeal number.
2
Opposition filed by the Respondent is taken on record. Rejoinder if any, be filed within four weeks. List on 5th July, 2023 for hearing of Appeal.
(Anil Kumar Srivastava,J) Chairperson
Dated 22nd March, 2023
4/tp
2 issues framed by the court
Whether pre-deposit under Section 21 of the RDB Act is required when the debt is yet to be determined.
Whether an application for waiver of pre-deposit is maintainable at the current stage.
1 provisions across 1 enactments
M/s Sri Srinivasa & Co. & Anr
IDBI Bank Ltd
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
