Dismissed

K Gunaseelan v. Iifl India Infoline Housing Finance Limited

DRAT10 Apr 2026

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal, Chennai, dismissed an application for waiver of pre-deposit resulting in the rejection of an appeal. The Tribunal held that the statutory pre-deposit of ₹4,64,391.60 was not made within the prescribed four-week period, violating a conditional order to proceed with the appeal.

What did the court decide?

Application IA 1398/2025 for waiver of deposit is dismissed; Appeal AIR (SA) 1596/2024 is rejected.

K Gunaseelan versus Iifl India Infoline Housing Finance… — Company and Corporate | DRAT (2026)

¶1

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

¶2

Dated the 10^th Day of April, 2026

¶3

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

¶4

IA 1398/2025 (Waiver) In

¶5

AIR (SA) 1596 of 2024 (Arising out of TSA 45/2022 on the file of DRT-II, Chennai)

¶6

Between

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Mr. K. Gunaseelan M/s. KNK Vegetables, K4, Periyar Vegetable Market, Koyambedu, Chennai 600 092.

¶8

Mrs. K. Sumathi, W/o Kothandan, 14/47 Valluvar Street, Near Sevan Star Medical, Arumbakkam, Chennai 600 106. ..…Appellants

¶9

And

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The Authorised Officer, IIFL (India Infoline Housing Finance Limited), 9^th Bascon Futura Towers, No. 10/2 Venkatnarayan Road,

¶11

T. Nagar, Chennai 600 017.

¶12

Mr. S. Karthik, S/o Sakthivel, R/a No.29 Second Street, Chelliamman Nagar Extension, Nerkundram, Chennai 600 017. …..Respondents

¶13

Counsel for Appellants : M/s. G. Sanjeevi

¶14

¶15

Counsel for Respondents : Mr.V. Balasubramani-R1

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Mr. M. Gopi – R2

¶17

ORDER

¶18

Learned counsel for the petitioners and the learned counsel for the respondents 1 and 2 are present.

¶19

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

¶20

This Tribunal, vide its order dated 11.03.2026, directed the petitioners/appellants to make pre-deposit of 30% of Rs.46,43,916/- within a period of four weeks from 11.03.2026 and the said period of four weeks had expired on 08.04.2026 and the matter was posted to 10.04.2026 for reporting compliance.

¶21

When the matter is taken up today, it is reported by the Office and the learned counsel for the parties that pre-deposit, as ordered by this Tribunal on 11.03.2026, is not complied with.

¶22

Under the said circumstances, this application in IA 1398/2025 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal in AIR (SA) 1596/2024, by giving effect to the conditional order dated 11.03.2026. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.

¶23

Sd/[Justice G. Chandrasekharan] CHAIRPERSON

¶24

¶25

K Gunaseelan v. Iifl India Infoline Housing Finance Limited

Case brief

What is this about?

What did the court decide?

K Gunaseelan v. Iifl India Infoline Housing Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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