The Debt Recovery Appellate Tribunal Chennai dismissed a waiver application and rejected the underlying appeal condoning non-compliance with a 25% pre-deposit order.
Application IA 494/2023 (Waiver) dismissed; Appeal AIR 1238/2023 rejected.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 30th Day of January, 2025
PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan
CHAIRPERSON
IA 494/2023 (Waiver) In
AIR 1238/2023
(Arising out of SA 481/2022 on the file of DRT - III, Chennai)
Between
Ceedeeyes Healthcare Services Pvt. Ltd. (Erstwhile Cee Dee yes Standard Towers Pvt. Ltd. ) Rep. By its Managing Director No. 25, Second Avenue, Indira Nagar Adayar, Chennai – 600 020.
…. Appellant
And
T. Nagar Chennai – 600 017
… Respondents
Counsel for Appellant : Mr.Thomas T Jacob & Co. Counsel for R1 : M/s. Ramalingam & Associates Counsel for R2 : None
1
ORDER
This matter is coming up today for reporting compliance of statutory deposit.
This Tribunal vide its dated 18.12.2024 directed the petitioner/appellant to deposit 25% of Rs.42,45,65,088.29p in two equal instalments within a period of six weeks from 18.12.2024 towards pre-deposit and the said period of six weeks had expired on 29.1.2025 and the matter was posted to this date for reporting compliance.
When the matter is taken up today, it is reported by the Office as well as by Ld. Counsel for petitioner/appellant that pre-deposit, as ordered by this Tribunal on 18.12.2024 is not complied with. Ld. Counsel for first respondent is present.
Under the circumstances, this application IA 494/2023 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 1238/2023, by giving effect to conditional order dated 18.12.2024.
Sd/[Justice G. Chandrasekharan] CHAIRPERSON
2
1 issue framed by the court
Whether the appeal should be admitted in absence of compliance with the statutory pre-deposit order.
Ceedeeyes Healthcare Services Pvt. Ltd. (Erstwhile Cee Dee yes Standard Towers Pvt. Ltd.)
Pegasus Assets Reconstruction Pvt. Ltd.
IndusInd Bank Limited
G. Chandrasekharan
As recorded by the court registry
8 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
