M/S .Sark Spice Produce Pvt. Ltd. v. South Indian Bank Limited

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

IA 334/2023 in A.IR:712/2023

M/S Sark Spice Produce Pvt Ltd &Ors V/S The South Indian Bank Ltd &Anr

09/11/2023

This appeal is coming up today for reporting compliance of statutory deposit. As per conditional order dated 3.10.2023 passed in IA 334/2023(Waiver), appellants shall deposit a sum of Rs.1,77,73,499/- on or before 17.10.2023 and failure to deposit the same would result in dismissal of appeal. However, appellants without complying the said order filed IA 423/2023 seeking extension of time and sought 10 weeks time for compliance of conditional order dated 3.10.2023. However, request of advocate for petitioners/appellants for grant of three weeks time was considered and time was extended for deposit of amount till 8.11.2023 and posted to this date for compliance.

Today Advocate Shri Periasamy represented that amount could not be mobilized and another extension petition could not be filed in time as counsel on record for petitioners/appellants is not well and sought further time for compliance. Once time is extended only on request of appellants, I am not inclined to grant any further time.

Therefore, Appeal AIR (SA) 712/2023 is rejected, by giving effect to orders dated 3.10.2023 & 18.10.2023 for non compliance of statutory deposit.

Sd/Chairperson