The tribunal allowed Special Appeals against orders dismissing them as withdrawn, subject to a mandatory pre-deposit. The appellant must deposit ₹75 lakhs (first ₹20 lakhs within one day) to avail the hearing.
The appellant is directed to deposit ₹75 lakhs to entertain the appeals; further SARFAESI actions deferred subject to payment.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson I.A. No. 733/2023 (WoD)
In
Appeal on Diary No. 1939/2023
Between
M/s Rudrax Creation & Ors.
… Appellant/s
V/s.
The Authorised Officer, HDFC Bank Ltd.
…Respondent/s
And
I.A. No. 734/2023 (WoD) In
Appeal on Diary No. 1942/2023
Between
M/s Rudrax Creation & Ors. … Appellant/s V/s.
The Authorised Officer, HDFC Bank Ltd. …Respondent/s Mr Gaurang Kinkhabwala, i/b Ms. Kanjani Trivedi , Advocate for Appellants.
Mrs Uma Faida, Advocate for Respondent Bank.
-: Order dated: 05/06/2024:-
The matter is taken up for hearing by way of praecipe filed by appellants for seeking urgent relief.
The appellants are in appeal impugning two orders of the Debts Recovery Tribunal–II, Ahmedabad (D.R.T) dated 17.10.2023 dismissing the S.A. at Diary No. 1730/2022, 1731/2022. Based on the pursis which was filed by the Ld. Counsel for the appellants stating that given the decision of the Madras High Court, the delay in filing the S.A. could not be condoned and that the SLP filed before the Hon’ble Supreme Court was also dismissed on the admission stage.
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indicate that they are under financial strain and income tax returns have been submitted to indicate those facts.
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lakhs by way of RTGS tomorrow i.e. on 06.06.2024 before 5.00 pm, and the balance of ₹ 55 lakhs shall be deposited within a gap of three weeks i.e. on or before 26.06.2024.
Post on 27.06.2024 for reporting compliance concerning the payment.
Sd/Chairperson
rm-7-8
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2 issues framed by the court
Whether the Debts Recovery Appellate Tribunal can entertain an appeal against orders dismissing Special Appeals as withdrawn.
Whether a pre-deposit under the SARFAESI Act is mandatory to entertain the Special Appeals.
Colour shows how this judgement treated each authority
1 provisions across 1 enactments
M/s Rudrax Creation & Ors.
The Authorised Officer, HDFC Bank Ltd.
Ashok Menon
As recorded by the court registry
3 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
