Appellants failed to comply with a Tribunal order mandating a 30% pre-deposit prior to appeal hearing. The Tribunal dismissed the interim application for waiver of the deposit, thereby upholding the statutory requirement and rejecting the appeal.
Application for waiver of pre-deposit was dismissed; appeal rejected.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 21st Day of January, 2025
PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan
CHAIRPERSON
IA 377/2023 (Waiver)
In
AIR 23/2022
(Arising out of OA 80/2015 on the file of DRT - III, Chennai)
Between
And
1
S/o Mr. Sankava Naicker, 51, Balaj Nagar, IInd Street, Virudhunagar – 626 001.
5-636 A, Periyar Street, NGO Colony, Virudhunagar, - 626 001. …..Respondents
Counsel for Appellant s : Mr.K.C.Krishnamoorthy Counsel for R1 : Mr.E.Kumar R2 & R3 are given up.
ORDER
No representation on behalf of petitioners/appellants and Ld. Counsel for respondent bank is present.
This matter is coming up today for reporting compliance of statutory deposit.
This Tribunal vide its order dated 09.12.2024 directed the petitioners/appellants to deposit 30% of Rs.2,84,51,805/-, in six weeks from 09.12.2024 towards pre-deposit and the said period of four weeks had expired on 20.01.2025 and the matter was posted to this date for reporting compliance.
When the matter is taken up today, it is reported by the Office that predeposit, as ordered by this Tribunal on 09.12.2024 is not complied with.
Under the circumstances, this application IA 377/2023 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR 23/2022, by giving effect to conditional order dated 09.12.2024.
Sd/-
[Justice G. Chandrasekharan] CHAIRPERSON
2
M/s. Jai SathyaPharma Distributors, Rep by its Proprietor Mr. G. Sankarraj
Tamilnad Mercantile Bank Ltd.
G. Chandrasekharan
As recorded by the court registry
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