Tribunal dismissed a waiver application for non-compliance of the statutory 25% pre-deposit ordered on November 6, 2024, thereby rejecting the underlying second appeal and maintaining the impugned judgment.
Application for waiver of pre-deposit dismissed; Second appeal rejected.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 21st day of November, 2024
PRESENT : HON’BLE MR. JUSTICE G. CHANDRASEKHARAN CHAIRPERSON
IA 501/2024 (Waiver) In
AIR (SA) 905/2024
(Arising out of IA 1095/2024 in S.A.271/2024 On the file of DRT-II, Chennai)
Between
..... Appellants
And
The Authorised Officer, DBS Bank, Regional Office, 2nd Floor, Salam Main Road, Karur – 639 006.
... Respondent
Counsel for Appellants : M/s. N. Balasubramanian Counsel for Respondent : None
ORDER
This matter is coming up today for compliance of statutory deposit.
This Tribunal vide its dated 6.11.2024 directed the petitioners/appellants to deposit 25% of Rs.73,09,479.50p within a period of two weeks from 6.11.2024 towards pre-deposit and the said period of two weeks had expired on 20.11.2024 and the matter is posted today for reporting compliance.
Ld. Counsel for petitioners/appellants submitted that petitioners/appellants could not comply with the conditional order. Ld. Counsel for respondent bank is present. It is reported by the Office, that pre-deposit, as ordered by this Tribunal on 6.11.2024 is not complied with
Under the circumstances, Application IA 501/2024 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 905/2024, by giving effect to conditional order dated 6.11.2024.
Sd/(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON
1 issue framed by the court
Whether an application for waiver of pre-deposit filed after expiry of the stipulated period must be dismissed for non-compliance.
1 provisions across 1 enactments
G. Kamal Chand
Mrs. K. Ranjana Devi
The Authorised Officer, DBS Bank
G. Chandrasekharan
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
