The tribunal allowed the IA for waiver of pre-deposit because the amount due in the underlying O.A. had not been determined, rendering the mandatory pre-deposit provisions inapplicable.
The application (I.A. No. 91 of 2024) for waiver of pre-deposit is allowed.
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. 91/2024(WoD) In
Appeal on Diary No. 2169/2023
Between
Deepen Arun Parekh
… Appellant/s
V/s.
Kotak Mahindra Bank Ltd.
…Respondent/s
Ms Nikita Vardhan, i/b M/s Kanga & Co., Advocate for Appellant. Mr. Vinay Deshpande, i/b M/s V. Deshpande & Co., Advocate for Respondent Bank.
-: Order dated: 16/07/2024:-
I.A. No. 91 of 2024 is an application for waiver of pre-deposit. The appeal arises from the interlocutory order passed by the Debts Recovery Tribunal No.-II, Mumbai (D.R.T.) in the pending Original Application (O.A.) No. 81 of 2016. Since the amount due to the respondent bank has not been determined in the O.A., there is no necessity to comply with mandatory provisions of Sec. 21 of the Recovery of the Debts and Bankruptcy Act, 1993 (“RDB Act”, for short).
Hence, the application is allowed.
The appeal shall be taken on file in case there are no other defects to be cured.
List the matter before the Registrar on 31.07.2024.
Sd/-
Chairperson
mks-04
1
1 issue framed by the court
Whether the appellant is required to comply with the mandatory provisions of Section 21 of the RDB Act when the amount due in the O.A. has not been determined.
1 provisions across 1 enactments
Deepen Arun Parekh
Kotak Mahindra Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
