The Debt Recovery Appellate Tribunal granted an extension of time until 19.03.2024 for the appellants to pay the balance predeposit of ₹9 lakhs, noting the requested period was excessive relative to the sum owed.
Appellants granted time till 19.03.2024 to pay the balance ₹9 lakhs; appeal dismissed if not paid.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 187/2024 (Extension of Time)
In
Appeal on Diary No. 2336/2023
Between
M/s. Iswar Vanmalidas Prajapati & Ors. … Appellant/s
V/s.
The Authorized Officer, ICICI Bank Ltd.
…Respondent/s
Mr. Gaurang Kinkhabwala, i/b Mr. Dhrumit Shauhan, Advocate for Appellants.
Noopr M., Advocate for Respondent appeared through a Video Conference.
The Appellants were directed to deposit a sum of ₹26 lakhs as predeposit for entertaining the appeal vide order dated 12.02.2024. Before the date of order, the Appellants had deposited a sum of ₹5 lakhs and further a sum of ₹3 lakhs was paid on the date of order. The balance sum of ₹18 lakhs was directed to be paid in two equal instalments within a gap of two weeks each. The Appellants paid the 1st instalment in time on 26.02.2024. The 2nd instalment was to be paid on 11.03.2024. On that date instead of making the payment, the Appellants filed an application for an extension of time and seeking 22 days to pay the amount stating that the Appellants were under financial strain and Appellant No.1 was ill and had to undergo
1
treatment.
Post on 20.03.2024 for reporting compliance.
Interim order shall continue till the next date of hearing.
psa-14
Sd/Chairperson
2
1 issue framed by the court
Whether the appellants' request for an extension of 22 days to pay the pending predeposit is justified given the excessive time sought and lack of documentary evidence.
M/s. Iswar Vanmalidas Prajapati & Ors.
The Authorized Officer, ICICI Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
