The AIR Tribunal dismissed the appeal due to the appellant's failure to pay the second instalment of predeposit after the interim stay order expired. The court held the appeal liable to be dismissed as no extension was granted post-07.07.2023.
Aggrieved party liable to deposit ₹50 lakhs; appeal dismissed for non-payment.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
Appeal on Diary No. 743/2022
Between
M/s. Gadekar Ginning & Pressing Pvt. Ltd. & … Appellant/s Anr.
V/s.
Canara Bank & Anr. …Respondent/s
Mr. Kushal Sawant, Advocate for Appellants.
Ms. Kadambari Patil, i/b Ms. Vaishali Bhilare, Advocate for Respondent No.1
It seems that there was a stay granted by the Hon’ble High Court of Bombay Bench at Aurangabad till 07.07.2023 and subsequently there has been no extension of the interim order of stay.
There has been no extension of stay after 07.07.2023. The Appellants were, therefore, liable to pay the 2nd instalment of the predeposit of ₹50 lakhs which has not been paid. As a consequence of this, the appeal stands dismissed.
Miscellaneous if are dismissed as Applications, any,
infructuous.
Sd/Chairperson
psa-30
1
3 issues framed by the court
Whether the appeal stands due to non-payment of the second instalment of predeposit by the appellant.
Whether the interim stay order has been extended beyond the specified date.
Whether the appeal is liable to be dismissed in the absence of a fresh extension of the interim order.
M/s. Gadekar Ginning & Pressing Pvt. Ltd.
Canara Bank
Ashok Menon
As recorded by the court registry
9 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
