Allowed
Indian Bank v. Yesbal Exports Pvt. Ltd.
DRTMA/82/2023
Case brief
AI extract
What is this about?
The Debts Recovery Tribunal allowed a motion application condoning a 95-day delay in re-presenting a petition to restore an order dismissed for default. The applicant bank claimed the delay resulted from a misplaced file with their counsel. The court restored the petition but barred future interest accrual during the defaulted period.
What did the court decide?
Condonation of 95-day delay in re-presenting the motion application; restoration of OA No.234/2020; levy of interest during the defaulted period barred.