Allowed

Ravishankar Industries v. Kotak Mahindra Bank Limited

DRT3 Apr 2025MA/123/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application to condone a 273-day delay in re-presenting a file-torn original application. The tribunal held that recovery of funds from a financial institution holding public money under trust could not be frustrated, granting the application subject to a cost of Rs. 1000.

What did the court decide?

Delay of 273 days in re-presenting the original application was condoned subject to payment of Rs. 1000 as cost and filing compliance report.

Ravishankar Industries versus Kotak Mahindra Bank Limited — Banking and Recovery | DRT (2025)

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MA 123/25 in OA Dy. No.1268/2022

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03.04.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 03^rd day of April, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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M.A. No.123 of 2025 in O.A. Dy. No.1268 of 2022

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HDFC Bank Limited Department for Special Operations L253, New No.36, 2^nd Street Korattur, Chennai – 600 080 Represented by its Authorised Signatory ….Applicant

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-Vs-

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M/s Handloom Choice

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Rep. by its Proprietor

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Mr. I. Shahul Hameed

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No.17, J.K. Complex, Ramanathan Street

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T. Nagar, Chennai – 600 017

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Mr. I. Shahul Hameed

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S/o Ibrahim Sha

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No.10 A, 42, Majith Nagar

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Saligramam, Chennai – 600 093 ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s T.N. Karthikeyan

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: - ORDER ON MA NO.123 OF 2025- :

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The present MA is filed by applicant bank praying to condone delay of

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273 days in re-presentation of OA.

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The Original Application is filed by the Petitioner/Applicant Bank against the Defendants, seeking main relief to order the Defendant Nos.1 and 2 jointly and severally to pay a sum of Rs.29,09,580/- (Rupees

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MA 123/25 in OA Dy. No.1268/2022

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03.04.2025

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Twenty Nine Lakhs Nine Thousand Five Hundred and Eighty only) due as on 02.09.2022 with further interest and costs.

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In the affidavit of Mr. S. Surender, Senior Manager representing the Applicant Bank, it is submitted that the OA has been returned by the Registry on 15.12.2022, to be re-presented on or before 30.12.2022. Due to ill health of the Senior Manager, instructions could not be given to the counsel for re-presentation of OA. Hence the delay of 273 days had occurred due to aforesaid reason and applicant bank prayed for condoning the delay in re-presenting the OA.

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Heard the arguments of the applicant’s counsel and perused the records of the case.

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As OA is filed for recovery of money due from borrower and applicant being a financial institution holding the public money under Trust, the recovery of which cannot be frustrated. Hence the Tribunal feels it apt to allow the MA.

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In the circumstances, delay is condoned, MA stands allowed, subject to payment of cost of Rs.1000/- to the DRT and DRAT Bar Association, Chennai on or before 16.04.2025 by the applicant and to file the payment of compliance report before the Registrar Court on 21.04.2025.

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In case of the applicant complying with the order, Registry is directed to number the OA, if otherwise found to be in order. It is clarified that, in

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MA 123/25 in OA Dy. No.1268/2022

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03.04.2025

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case, if the applicant bank fails to comply with the conditional order above,

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MA stands dismissed automatically without there being any need to pass separate order.

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Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the 03^rd day

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of April, 2025)

Ravishankar Industries v. Kotak Mahindra Bank Limited

Case brief

What is this about?

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Ravishankar Industries v. Kotak Mahindra Bank Limited

Case brief

What is this about?

What did the court decide?

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