Mahatma Gandhi Vidyamandir versus Religare Finvest Limited

The appellant was directed to deposit a sum of ₹6.00 crores as a predeposit for entertaining the appeal vide order dated 17.12.2024. On the date of order, ₹75 lakhs. was deposited The balance amount of ₹5.25 crores was directed to be paid in two equal instalments. The first instalment was due on 09.10.2025. The appellant could not pay the amount on time and applied for an extension of two weeks stating that it is running an institution and is under financial strain. ₹25 lakhs is produced today towards the first instalment. The appellant has to pay a sum of ₹5 crores more. The last instalment is due on 23.01.2025.

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The Ld. Counsel appearing for the respondent vehemently opposes the application for an extension of time. Considering the facts and circumstances, it is only appropriate that an extension of time

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to pay the pre-deposit be granted as a last chance. The balance amount of ₹5 crores shall be paid on or before 23.01.2025, the time granted for payment of the last instalment, failing which, the appeal shall stand dismissed without reference to this Tribunal.

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Interim order shall continue till the next date. Post on 24.01.2025 for reporting compliance regarding balance payment.

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Sd/Chairperson

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mks-11

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Mahatma Gandhi Vidyamandir v. Religare Finvest Limited

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Mahatma Gandhi Vidyamandir v. Religare Finvest Limited

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