Stone Yuug v. Bank of Baroda
Case brief
What is this about?
The Tribunal dismissed the appeal for restoration of an appeal application as the appellants failed to comply with the direction to deposit an additional sum of ₹7 lakhs as pre-deposit, despite having deposited ₹12 lakhs.
What the court decided
A compact analysis
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson M.A. on Diary No. 849/2024 (Restoration)
In
(Appeal on Diary No. 1328/2022-Disposed of)
Between
Stone Yuug Corporation & Ors. … Appellant/s V/s.
Bank of Baroda …Respondent/s
An Advocate for the Respondent appeared through a Video Conference.
The appellants were directed to deposit a sum of ₹12 lakhs towards the balance of the pre-deposit, the payment of which was earlier defaulted. That apart the appellants were also directed to deposit a further sum of ₹7 lakhs toward the pre-deposit and also pay a sum of ₹20,000/- to the respondent bank as cost.
The appellants have deposited a sum of ₹12 lakhs toward the balance of the pre-deposit but have not complied with the rest of the order.
Hence, the application for restoration stands dismissed.
psa-11
Parties & counsel
- appellant
Stone Yuug Corporation & Ors.
- respondent
Bank of Baroda
Coram
Ashok Menon
Case details
As recorded by the court registry
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