A Ramasamy v. Laxmi Vilas Bank
Case brief
What is this about?
The Tribunal dismissed an application for waiver of pre-deposit under the SARFAESI Act, noting that the appellant failed to deposit 50% of the claimed amount within the ordered timeframe, leading to the rejection of the underlying appeal.
What did the court decide?
Application for waiver of statutory pre-deposit dismissed; Appeal AIR 1901/2023 rejected.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 17th Day of March, 2025
PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan CHAIRPERSON
IA 150/2024 (Waiver)
In
AIR 1901/2023
(Arising out of OA 47/2013 on the file of DRT, Coimbatore)
Between
- Mr. A Ramasamy, Sole Proprietor, M/s Sri Sivaganesh Textiles, 2/426, Perumal Koil Thottam, Semmipalayam, KSN Puram, Palladam, 641 662
- Smt. V Shanthi, (original name is Mrs. Santhamani As per the OA No. 47/2013) Wife of Mr. A Ramasamy, 2/426, Perumal Koil Thottam, Semmipalayam, KSN Puram, Palladam, 641 662. ..…Appellants
And
Issues for consideration
1 issue framed by the court
Whether to waive the pre-deposit requirement when the appellant failed to deposit 50% of the claimed amount within the stipulated time.
Parties & counsel
- appellant
Mr. A Ramasamy and Smt. V Shanthi
- respondent
M/s Lakshmi Vilas Bank Ltd. and others
Coram
G. Chandrasekharan
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · March
- CNR
- 331090019012023
- Topic
- Banking and Recovery
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