Sri Vinayaga Bankers v. City Union Bank Limited
Case brief
What is this about?
Extension of time granted to appellants for balance payment of Rs.3,27,09,185, accepting part payment of Rs.52 Lakhs on grounds of ill health.
What did the court decide?
Time extended until 30.06.2023 for payment of balance amount after accepting Rs.52 Lakhs.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 161/2023 in A.IR:325/2023
Sri Vinayaga Bankers And 2 Ors Vs A.O., City Union Bnk Ltd. And 2 Others
21/06/2023
Today, this case is coming up for compliance of pre deposit of Rs.3,27,09,185/-, as per orders of this Tribunal dated 22.05.2023 in IA 161/23 (Waiver). However, Petitioners/Appellants filed Application seeking extension of time.
Advocate for Petitioners/Appellants submitted that Petitioners/Appellants brought Demand Drafts for Rs.52 Lakhs and represented that due to ill-health of wife of Petitioner/Appellant, total money could not be mobilized, and prayed for one more week from now, to pay balance amount.
Considering the request of Advocate for Petitioners/Appellants, Office to receive part payment of Rs.52 Lakhs, and time is granted to pay balance amount, till 30.06.2023.
Application is ordered accordingly.
As per orders in IA- 247/2023 (Extn.), time is extended for payment of balance amount till 30.06.2023.
Post the case on 03.07.2023, for compliance of deposit.
Parties & counsel
- petitioner
Sri Vinayaga Bankers
- respondent
City Union Bnk Ltd.
Coram
Chairperson
Case details
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