The Debt Recovery Appellate Tribunal dismissed an application for waiver of statutory deposit after the appellant failed to comply with an order directing a 30% pre-deposit, resulting in the automatic rejection of the underlying appeal.
Application for waiver of pre-deposit dismissed; Appeal AIR 340/2024 rejected.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 23rd day of April, 2025
PRESENT : HON’BLE MR. JUSTICE G. CHANDRASEKHARAN CHAIRPERSON
IA 472/2024 (Waiver)
In
AIR (SA) 340/2024
(Arising out of SA No.77/2014 on the file of DRT, Coimbatore)
Between
Mr. A. Duraisamy, S/o. Arunachala Gounder, D.No.1, Poon Thottam, Ganapathy, Coimbatore – 641 006. … Appellant
And
1
Counsel for Appellant : Mr. R. Venkatesan Counsel for Respondent 1 : Mr. R.R. Pradheep Counsel for Respondent 2 : M/s. ARK LAW Associates Counsel for Respondent 3 & 4 : Mr. R. Jayaprakash
ORDER
Ld. Counsel for petitioner /appellant is present through VC. Ld. Counsel for R2 and Ld. Counsel for R3 & R4 are present. No representation for R1.
This matter is coming up today for reporting compliance of statutory deposit.
This Tribunal vide its order dated 05.03.2025 directed the petitioner/appellant to deposit 30% of Rs.2,73,75,000/- within a period of six weeks from 05.03.2025 towards pre-deposit and the said period of six weeks had expired on 21.04.2025 and the matter was posted to this date for reporting compliance.
When the matter is taken up today, it is reported by the Office as well as by Ld. Counsel for petitioner/appellant that pre-deposit, as ordered by this Tribunal on 05.03.2025 is not complied with.
Under the circumstances, this application IA 472/2024 (Waiver) is dismissed for noncompliance of statutory deposit, resulting in rejection of Appeal AIR 340/2024, by giving effect to conditional order dated 05.03.2025.
Sd/-
(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON
2
Mr. A. Duraisamy
The Authorised Officer, Central Bank of India
Mr. K. Velusamy
Mrs. Visalakshi
Mr. Sanjeev
Mr. Maruthachalam
G. Chandrasekharan
As recorded by the court registry
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