N.Riyas Ahamed v. Idfc Bank Limited
Case brief
What is this about?
The Appellant failed to deposit the requisite amount of Rs.51,64,735/- by the deadline of 17.03.2023. The Tribunal rejected the appeal for non-compliance with the conditional operative order under Section 18(1) of the SARFAESI Act, 2002.
What did the court decide?
The appeal was rejected due to non-deposit of the statutory amount. All pending Internal Appeals were closed.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 54/2023 In A.IR:472/2022
N.Riyas Ahamed V/S Idfc Bank Ltd
27/03/2023
This Appeal is coming up for statutory deposit. As per the conditional Order dated 03.03.2023, Appellants shall deposit Rs.51,64,735/-, on or before 17.03.2023 and failure to deposit of said amount would result in rejection of the Appeal.
Today, Learned Counsel for Appellants submitted that money is not deposited and sought further time. As it is a conditional Order, request for further time is refused. Hence, the Appeal AIR (SA): 472/2022 is rejected for non compliance of Order dated 03.03.2023, namely deposit required under Section 18(1) of SARFAESI Act, 2002. All pending IAs, if any, stand closed.
Sd/Chairperson
Parties & counsel
- appellant
N.Riyas Ahamed
- respondent
Idfc Bank Ltd
Coram
Chairperson
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · March
- CNR
- 331090004722022
- Bench
- S Ravi Kumar
All orders in this case
7 orders share this CNR
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