Allowed
South Indian Bank v. Ms Pratiksha Industrial Suppliers Proprietor Mr Harish Raghunath Thorat
DRATIA/366/2024
Case brief
AI extract
What is this about?
The Debt Recovery Appellate Tribunal allow the appeal and quashed an interim stay order of the Debts Recovery Tribunal which directed an inadequate payment of Rs. 3 lakhs against an outstanding debt of Rs. 98 lakhs. The matter was remanded to the Debts Recovery Tribunal to consider the application afresh.
What did the court decide?
The impugned interim stay order directing payment of Rs. 3 lakhs was quashed and the matter remanded to the Debts Recovery Tribunal for fresh consideration.