Ms Agrawal Industries v. Kotak Mahindra Bank Limited

BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson

I.A. No. 18/2025 (Extension of Time) In Misc. Appeal on Diary No. 2501/2024

Between

M/s. Agrawal Industries & Ors. … Appellant/s

V/s.

Kotak Mahindra Bank Ltd. …Respondent/s

Mr. Radhe Agrawal, Advocate for Appellants appeared through a Video Conference.

Mr. Nishant Rana, i/b Zastriya, Advocate for Respondent.

This is an application filed for an extension of time to pay the 2^nd and 3^rd instalments of pre-deposit. ₹20 lakhs each was payable on 27.12.2024 and 10.01.2025.

1. The appellants have stated that because of some medical emergency and financial difficulty, they could not pay the amount on time.

1. This application was filed on 26.12.2024 for an extension of time to pay the instalments.

1. The respondent has vehemently opposed this application and filed a reply and stated that the reasons for the extension of time are not sufficient.

1. Considering the entire facts and circumstances, I find that some time can be granted for payment of the instalments. For both the

1

instalments payable on 27.12.2024 and 10.01.2025, and a sum of ₹40 lakhs shall be paid within two weeks, i.e., on or before 23.01.2025. No further extension will be granted.

List the matter on 24.01.2025 for reporting compliance regarding the payment of pre-deposit.

Sd/Chairperson

psa-12

2