M/s.Sri Sakthi groups v. Bank of India
Case brief
What is this about?
The Debt Recovery Appellate Tribunal rejected Appeal AIR (SA) 60/2023 because the appellants failed to deposit the required amount of Rs.41,76,519/ under a conditional order as per Section 18(1) of the SARFAESI Act, 2002.
What did the court decide?
The appeal was rejected and dismissed for non-compliance with the order dated 03.03.2023 requiring deposit under Section 18(1) of SARFAESI Act, 2002.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 85/2023 In AIR (SA) 60/2023
Sri Sakthi Groups And Anr Vs The A.O., Bank Of India
27/03/2023
This Appeal is coming up for statutory deposit. As per the conditional Order dated 03.03.2023, Appellants shall deposit Rs.41,76,519/-, 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) 60/2023 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
Sri Sakthi Groups And Anr
- respondent
The A.O., Bank Of India
Coram
Chairperson
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · March
- CNR
- 331090000602023
- Bench
- S Ravi Kumar
All orders in this case
5 orders share this CNR
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