Sureshkumar M v. State Bank of India
Case brief
What is this about?
The Tribunal rejected the appeal for failure to deposit the statutory amount by the extended deadline. It refused further time because no stay was granted on the High Court Writ Petition, giving effect to the conditional order of deposit. All pending IAs were closed.
What did the court decide?
Rejection of the Appeal; All pending I.A.s closed.
What the court decided
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 238/2023 in
AIR 702/2023
Sureshkumar M Vs A.O., State Bank Of India And Ors
25/09/2023
This Appeal is coming up for statutory deposit. As per the conditional Order dated 08.08.2023, Appellant shall deposit Rs.39,47,178/-, on or before 22.08.2023, and same was extended upto 19.09.2023 vide Order in IA 327/2023 (extension of time) dated 23.08.2023, and failure to deposit of said amount would result in rejection of the Appeal.
Counsel for Appellant filed a Memo stating that Appellant has preferred a Writ Petition in OP DRT 372/2023 before Hon’ble High Court of Kerala and sought further time. As it is a conditional Order, and no stay is granted by Hon’ble High Court, request for further time is refused. Hence, the Appeal AIR 702/2023 is rejected by giving effect to conditional Order dated 23.08.2023, namely deposit required under Section 18(1) of SARFAESI Act, 2002. All pending IAs, if any, stand closed.
Sd/Chairperson
Issues for consideration
2 issues framed by the court
Whether to allow further time for deposit when a Writ Petition filed in the High Court has not granted a stay.
Whether the conditional order for deposit of amount under Section 18(1) of SARFAESI Act is activated due to failure to deposit on extended date.
Parties & counsel
- appellant
Sureshkumar M
- respondent
A.O., State Bank Of India
Coram
Chairperson
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 331090007022023
- Topic
- Banking and Recovery
All orders in this case
11 orders share this CNR
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