Dismissed

Shree Sana Spinners v. Tamilnad Mercantile Bank Limited

DRAT10 Jan 2025

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal dismissed an application seeking waiver of a pre-deposit order. The tribunal rejected the consequent appeal because the appellant failed to produce the challenged High Court order despite being given an opportunity to do so, deeming this a non-compliance with the conditional order.

What did the court decide?

The application IA 280/2024 (Waiver) was dismissed and the consequential appeal AIR 370/2024 was rejected.

Shree Sana Spinners versus Tamilnad Mercantile Bank Limited — Banking and Recovery | DRAT (2025)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 10^th Day of January, 2025

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PRESENT: Hon'ble MR. JUSTICE G. Chandrasekharan

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CHAIRPERSON

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IA 280/2024 (Waiver)

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AIR (SA) 370/2024

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(Arising out of IA No.07/2024 in S.A.No. 4 of 2024 on the file of DRT, Coimbatore)

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Between

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Shree Sana Spinners, Rep. by its Partner Mr. C. Govindasamy, No.718/31, Sipli Thottam, Pappampatti, Vagarayampalayam, Moppiripalayam, Coimbatore – 641 659

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Mr. C. Govindasamy, S/o. R. Chinnasamy, No.718/31, Sipli Thottam, Pappampatti, Vagarayampalayam, Moppiripalayam, Coimbatore – 641 659 …Appellants

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And

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M/s. Tamilnad Mercantile Bank, Rep. by its Authorised Officer, 314, Ground Floor, Karumathampatti Road, Somanur – 641 668 …..Respondent

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Counsel for Appellants : M/s. Shivakumar and Suresh Counsel for Respondent : Mr. E.Kumar

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ORDER

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Ld. Counsel for petitioners/appellants is present. Ld. Counsel for respondent bank is present through VC.

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This Tribunal on 27.11.2024 had directed the petitioner to make a pre-deposit of 25% of Rs.1.48 Crores, i.e., Rs. 37 Lakhs within four weeks from 27.11.2024 and the matter was ordered to be posted on 27.12.2024 for reporting compliance. On 27.12.2024, Ld. Counsel for the petitioner submitted that petitioner had filed CRP No.3821/2024 on the file on Hon'ble High Court of Madras, against the order passed on 27.11.2024 by this Tribunal in IA 280/2024 and sought two weeks time for getting orders from the Hon'ble High Court of Madras. Therefore this matter is listed today for production of copy of the order of the Hon'ble High Court of Madras in CRP No.3821/2024.

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Today, Ld. Counsel for the petitioner submitted that he was not able to list the above mentioned CRP and hence, could not get the order.

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Ld. Counsel for the respondent bank submitted that there is no such CRP pending before the Hon'ble High Court of Madras.

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In the circumstances stated by the Ld. Counsels appearing for the respective parties and despite giving opportunity for the petitioner to get the order from the Hon'ble High Court of Madras, no order is produced till date, this Tribunal has no option but to dismiss this application for not complying the conditional order. Accordingly this application IA 280/2024 (Waiver) is dismissed. Consequently, appeal AIR 370/2024 stands rejected.

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Sd/- [Justice G. Chandrasekharan] CHAIRPERSON

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Shree Sana Spinners v. Tamilnad Mercantile Bank Limited

Case brief

What is this about?

What did the court decide?

Shree Sana Spinners v. Tamilnad Mercantile Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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