Dismissed

Sri Chinthamani Vinayagar Educational Trust v. M/s. Religare Finvest Limited Rep by its Authorised officer

DRAT6 Apr 2026

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal dismissed a waiver application for pre-deposit under the Recovery of Debts and Bankruptcy Act due to non-compliance with an order dated 05.03.2026, resulting in the rejection of the underlying appeal.

What did the court decide?

Dismissal of waiver application; rejection of appeal by operation of conditional order.

Sri Chinthamani Vinayagar Educational Trust versus M/s. Religare Finvest Limited Rep by its Authorised officer — DRAT (2026) — LawSathi Research

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 6^th Day of April, 2026

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

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IA 225/2026 (Waiver) In AIR (SA) 19 of 2026 (Arising out of IA 4986/2025 in SA 1035/2025 on the file of DRT, Madurai)

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Between

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Sri Chinthamani Vinayagar Educational Trust, Rep. by its Chairman, 3/95 Vettambadi Post, Namakkal 637 405. Also at D.No.44, S.F.No. 349/6, Patta No.386, Vetri Vinayaga Institute, Kattuputhur, Tholurpatti Village, Trichy 621 215.

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Mr. G. Sekar, Chairman, No.211-A, Rasikumaripalayam, Mohanur, Namakkal 637 405 ..…Appellants

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And

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M/s. Religare Finvest Limited, Rep. by it’s the Authorised Officer, Having its registered Office at 2^nd floor Rajlok Building, 24, Nehru Place, New Delhi 110 019

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Having its Branch Office at No. 79/1A, Praveen Plaza, Sri Shanmugam Road, R.S.Puram, Coimbatore District 641 002.

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Chief Judicial Magistrate, Trichirapalli. (GIVEN UP)

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N. Rajalakshmi, Advocate Commissioner, Plot No.10, 3^rd Cross Street, 3^rd Main Road, Ganesh Nagar, Kattur, Trichirapalli. …..Respondents

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Counsel for Appellants : M/s. R.M. Siranjeevi

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Counsel for Respondents : M/s. S. Namasivayam – R1

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ORDER

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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 05.03.2026, directed

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the petitioners/appellants to make pre-deposit of 25% of Rs.31,42,88,453.04p. in two equal instalments (i.e. on or before 19.03.2026 and 02.04.2026 respectively) and the said period had expired on 02.04.2026 and the matter was posted to 06.04.2026 for reporting compliance.

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When the matter is taken up today, it is reported by the Office and the learned counsel for the first respondent that predeposit, as ordered by this Tribunal on 05.03.2026 is not complied with.

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Under the said circumstances, this application in IA 225/2026 (Waiver) is dismissed for non compliance of statutory

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deposit, resulting in rejection of Appeal in AIR (SA) 19/2026, by giving effect to the conditional order dated 05.03.2026. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.

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Sd/[Justice G. Chandrasekharan] CHAIRPERSON

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Sri Chinthamani Vinayagar Educational Trust v. M/s. Religare Finvest Limited Rep by its Authorised officer

Case brief

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Sri Chinthamani Vinayagar Educational Trust v. M/s. Religare Finvest Limited Rep by its Authorised officer

Case brief

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What did the court decide?

What the court decided

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