The court dismissed a waiver application due to non-compliance with an order requiring a statutory pre-deposit. Consequently, the underlying appeal was rejected.
Application for waiver of pre-deposit dismissed; underlying appeal rejected.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 22nd day of November, 2024
PRESENT : HON’BLE MR. JUSTICE G. CHANDRASEKHARAN
CHAIRPERSON
IA 417/2024 (Waiver) In
AIR (SA) 780/2024
(Arising out of I.A.1486/2024 in S.A.No.318/2024 on the file of DRT, Coimbatore)
Between
Mr. T.N. Balakrishnan, M/s. Sri Lakshmi Hardwares, 185, Main Bazar, Ooty – 643 001.
… Appellant
And
The Authorised Officer, Muthoot Fincorp Ltd, Muthoot Fincorp Ltd, Muthoot Centre, Punnen Road, Trivandrum, Kerala – 695 039.
Branch office at
Near Old Milk Diart, Ettiness Road, Ootty – 643 001.
…Respondent
Counsel for Appellant : M/s. Nithyavendhan.K, R. Prithviraj Pandian, M/s. S. Manoj Kumar & R. Vandhana Prabhu
Counsel for Respondent : M/s. T. Sai Krishnan, R. Saravanan, M/s. A. Adhi Chakravarthy, Tarang K. Sancheti, M/s. Chandini Rajkishore
ORDER
This matter is coming up today for compliance of statutory deposit.
This Tribunal vide its dated 7.11.2024 directed the petitioner/appellant to deposit 50% of Rs.6,13,22,388/- within a period of two weeks from 7.11.2024 towards pre-deposit and the said period of two weeks had expired on 21.11.2024 and the matter is posted today for reporting compliance.
Ld. Counsel for petitioner/appellant submitted that petitioner/appellant could not comply with the conditional order. Ld. Counsel for respondent is present.
It is reported by the Office, that pre-deposit, as ordered by this Tribunal on 7.11.2024 is not complied with.
Under the circumstances, Application IA 417/2024 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 780/2024, by giving effect to conditional order dated 7.11.2024.
Sd/(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON
2
1 issue framed by the court
Whether the appellant has complied with the Tribunal's order dated 7.11.2024 directing a pre-deposit of 50%.
Mr. T.N. Balakrishnan
The Authorised Officer, Muthoot Fincorp Ltd
G. CHANDRASEKHARAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
