Dismissed

M/s.Varshini Equipments, Represented by its Sole Proprietrix, Mrs. G.Umamaheswari v. Indian Bank

DRAT27 Jan 2025

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal dismissed an application for waiver of pre-deposit. As the appellant failed to deposit 25% of the decretal amount within the stipulated timeline, the Tribunal rejected the underlying appeal AIR (SA) 8/2024.

What did the court decide?

Application IA 68/2024 (Waiver) dismissed; Appeal AIR (SA) 8/2024 rejected due to non-compliance of pre-deposit.

M/s.Varshini Equipments, Represented by its Sole Proprietrix… — Banking and Recovery | DRAT (2025)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 27^th Day of January, 2025

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

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IA 68/2024 (Waiver)

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AIR (SA) 8/2024

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(Arising out of T.S.A. No. 2/2021 on the file of DRT,Coimbatore)

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Between

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M/s. Varshini Equipments, Represented by its Sole Proprietrix, Mrs. G. Umamaheswari,

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13/1C, Eachanari to Madukkarai Main Road,

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Madukkarai Post, Coimbatore – 641 105.

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Mrs. G. Umamaheshwari, W/o, Mr. V Ganesh Kumar, No. 12/11, Anna Salai, Little Mount, Saidapet, Chennai – 600 015

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Mr. V. Ganesh Kumar, S/o Mr. Velusamy, 13/1C,Eachanari to Madukkaarai Main Road, Madukkarai Post, Coimbatore – 641 105 …Appellants

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And

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The General Manager, Indian Bank, Corporate Office, 254-260, Avvai Shanmugam Salai, Chennai – 600 014

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The Authorised Officer – cum- Chief Manager, Indian Bank,

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Stressed Assets Management Branch, No. 31, Varity Hall Road, Coimbatore – 641 001.

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Mr. M. Muthukumar,

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S/o. Mr. Murugan, 1/NA, Aranmanai Thottam, Mixer Company, Idayarpalayam. Coimbatore – 641 008.

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Mr. P. RubanChakaravarthi, S/o Mariyappa Gounder Palanisamy, 7-1, Vinayaga Nagar, Sungam Bye Pass Road, Coimbatore – 641 045.

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M/s. Auction Tiger, BO704-705, Wall Street- II, Opp. Orient Club, Nr. Gujarat Collage, Ellis Bridge, Ahmedabad – 380 006

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Google India Pvt. Ltd., No.3, RMZ Infinity –Tower E, Old Madras Road, 3^rd , 4^th and 5^th Floors, Bangalore – 560 016.

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Paul Victor, S/o George Victor, Door No. 37, C.P. Garden, Tharapakkam, Chennai – 600 128.

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P.J. David (Deceased), S/o. V.P. Joseph, 103/53, LDG Road, Little Mount, Saidapet, Chennai.

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Mr. S. Velusamy (Deceased) S/o. Subbaiya Gounder .

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....Respondents

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Counsel for Appellants : Ms. Kamachi D Counsel for R1 & R2 : M/s. Aiyar&Dolia Counsel for R3 to R5 & R7 : None

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R6, R8 & R9 are given up.

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ORDER

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No representation on behalf of petitioners/appellants and Representing Counsel for R1 and R2 is present.

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This matter is coming up today for reporting compliance of statutory deposit.

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This Tribunal vide its order dated 13.12.2024 directed the petitioner/appellant to deposit 25% of Rs.2,91,97,860/- in two equal instalments within six weeks from 13.12.2024 towards pre-deposit and the said period of six weeks had expired on 24.01.2025 and the matter was posted to this date for reporting compliance.

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When the matter is taken up today, it is reported by the Office that pre-deposit, as ordered by this Tribunal on 13.12.2024 is not complied with.

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Under the circumstances, this application IA 68/2024 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 8/2024, by giving effect to conditional order dated 13.12.2024.

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Sd/-

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[Justice G. Chandrasekharan] CHAIRPERSON

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M/s.Varshini Equipments, Represented by its Sole Proprietrix, Mrs. G.Umamaheswari v. Indian Bank

Case brief

What is this about?

What did the court decide?

M/s.Varshini Equipments, Represented by its Sole Proprietrix, Mrs. G.Umamaheswari v. Indian Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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Case details

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Varshini Equipments Rep by G Umamaheswari versus Indian Bank