DRTA granted an extension of time for depositing the remaining pre-deposit amount towards an appeal, directing payment by 04.03.2025, while denying a further extension requested for another 25 days.
Extension of time granted to deposit ₹55 lakhs balance of pre-deposit by 04.03.2025; denied extension until 10.03.2025.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson I.A. No. 109/2025 (Extension of Time)
In
Misc. Appeal on Diary No. 2275/2024
Between
Universal Tradlink Corporation through its Prop. … Appellant/s Mr. Manoj Paliwal & Ors.
V/s.
Canara Bank & Anr. …Respondent/s
Mr. Radhe Agrawal, Advocate for the Appellants appeared through a Video Conference.
An Advocate for the Respondent appeared through a Video Conference.
-: Order dated: 12/02/2025:-
The appellants were directed to pay a sum of ₹70 lakhs as per deposit for entertaining the appeal vide order dated 28.01.2025. The appellants paid a sum of ₹10 lakhs on 29.01.2025 and the balance ₹60 was directed to be deposited in two equal instalments of 30 lakhs each. The 1st instalment was due on 11.02.2025 and the appellants did not pay the amount and have come with an application for an extension of time to pay the amount.
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shortfall of ₹25 lakhs towards the 1st instalment and the 2nd instalment which is due on 04.03.2025, will be paid by 10.03.2025 and therefore, the time granted by this Tribunal to pay the 2nd instalment may also be extended upto the 10.03.2025.
List the matter on 05.03.2025 for reporting compliance regarding the payment of pre-deposit.
The interim order shall be extended till the next date of the hearing.
psa-11
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Universal Tradlink Corporation through its Prop. Manoj Paliwal & Ors.
Canara Bank & Anr.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
