Dismissed

Pinakini Educational Trust Rep by Smt Asha Reddy v. Sir M. Visvesvaraya Co-Operative Bank Limited Rep by Authorised Office Under Sarfaesi Act

DRAT19 Mar 2025

Case brief

AI extract

What is this about?

This is a brief order where the Tribunal rejected an application for extension of time to pay pre-deposit required for maintaining an appeal. The Tribunal dismissed the appeal due to the appellant's non-compliance with deposit conditions.

What did the court decide?

Application for extension of time rejected; appeal dismissed due to non-compliance with pre-deposit.

Pinakini Educational Trust Rep by Smt Asha Reddy versus Sir… — Banking and Recovery | DRAT (2025)

¶1

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

¶2

Dated the 19^th Day of March, 2025

¶3

PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan CHAIRPERSON

¶4

IA 695/2024 (Waiver)

¶5

¶6

AIR (SA) 1356/2024

¶7

(Arising out of SA 27/2023 on the file of DRT - I, Bengaluru)

¶8

Between

¶9

M/s.Pinakini Educational Trust, Behind Raymond Factory, Bypass Road, Gindapura, Gowribidanur – 561 208 Chikkaballapura District, Karnataka Rep. by Smt. Asha Reddy, Trustee ..…Appellant

¶10

And

¶11

M/s SIR M.Visvesvaraya Co-operative Bank Limited, #109, Corporate Office, Shankarpuram, Bangalore – 560 004 Rep. by Authorized officer. ..Respondent

¶12

Counsel for Appellant : S.Pandurangan Counsel for respondent : Mr.T.S.Rajeev Gandhi

¶13

ORDER

¶14

This Tribunal on 23.12.2024 passed an order in IA 695/2024 (Waiver) directing the petitioner/appellant to deposit Rs.4,00,10,398/- in two instalments, of which 1^st instalment of Rs.2,00,05,199/- to be deposited on or before 20.01.2025 and 2^nd instalment of Rs.2,00,05,199/- to be deposited on or before 17.02.2025. Against this

¶15

¶16

order, the petitioner preferred a writ petition before the Hon’ble High Court of Karnataka at Bangalore in WP No.1073/2025. The Hon’ble High Court of Karnataka was inclined to grant limited interference in the matter to the effect that four more weeks be accorded to the petitioner to make the pre-deposit for maintaining the appeal. The said period for making pre-deposit, as per the order of this Tribunal got over by 18.02.2025. The order of the Hon’ble High Court of Karnataka in WP No.1073/2025 was passed on 20.01.2025. Four weeks calculated from 20.01.2025 got over by 17.02.2025. Even further four weeks from 17.02.2025 also got over. Still petitioner has not complied with the pre-deposit. Ld. Counsel for petitioner submitted that petitioner is ready with DD for Rs.1 crore and filed an application for extension of time for paying the balance amount of Rs.3,00,10,398/-. It is seen that petitioner had not even complied with the 1^st instalment of Rs.2,00,5,199/- towards pre-deposit.

¶17

Ld. Counsel for respondent bank objects the extension petition.

¶18

In the said circumstances, this Tribunal is not inclined to entertain the application filed for extension of time and thus the said application is rejected.

¶19

Due to non-compliance of the condition imposed by this Tribunal on 23.12.2024 for making pre-deposit, this IA 695/2024 (Waiver) is dismissed, resulting in rejection of the appeal AIR 1356/2024.

¶20

Sd/- [Justice G. Chandrasekharan] CHAIRPERSON

¶21

Pinakini Educational Trust Rep by Smt Asha Reddy v. Sir M. Visvesvaraya Co-Operative Bank Limited Rep by Authorised Office Under Sarfaesi Act

Case brief

What is this about?

What did the court decide?

Pinakini Educational Trust Rep by Smt Asha Reddy v. Sir M. Visvesvaraya Co-Operative Bank Limited Rep by Authorised Office Under Sarfaesi Act

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Mm Traders versus Idbi Bank

A Prabhakar Reddy versus Idbi Bank

P Soundarajan versus a O Tamilnad Mercantile Bank Ltd.

A.O.,Tamilnad Mercantile Bank Ltd. versus Mrs.B.Vijayalakshmi

Govindraj Rao H versus Karnataka Bank Limited

Karnataka Bank Limited versus H Govindraj Rao