The Tribunal allowed miscellaneous applications by a bank to condone delay and restore an original application dismissed for default. The court emphasized the bank's trust obligation as a financial institution and imposed a cost condition.
MA Nos.33/25 and 36/25 allowed on payment of Rs.5000/- to Madras High Court Legal Services.
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MA 33/25 & 36/25 in TA No.482/2023
06.02.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 06th day of February, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
Misc. Application Nos.33/25 & 36/25 in TA No.482 of 2023
The South Indian Bank Limited Mount Road Branch No.19, Ground Floor Anna Theatre Complex Chennai – 600 002 Rep. by its Chief Manager ….Petitioner / Applicant
-Vs-
S/o Rikhab Chand Jain Residing at Flat No.BL, 4th Floor Door No.52, Gangadeeshwar Koil Street Purasaiwakkam, Chennai – 600 084 ….Respondents/Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s M.L. Ganesh
: -ORDER ON MA NOs.33/25 & 36/25- :
in filing restoration petition and MA No.36/25 is filed to restore TA, which was dismissed for default on 13.09.2023.
Defendants, seeking main relief to order the Defendants pay a sum of
MA 33/25 & 36/25 in TA No.482/2023
2
06.02.2025
Rs.38,27,997.65p (Rupees Thiry Eight Lakhs Twenty Seven Thousand Nine Hundred and Ninety Seven and Sixty Five Paise only) together with Interest @ 14.95% p.a. and costs.
Heard and perused the records of the case .
MA 33/25 & 36/25 in TA No.482/2023
3
06.02.2025
despite availing substantial adjournments. Accordingly, TA came to be dismissed for default and non-prosecution on 13.09.2023.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the 06th day of February, 2025)
2 issues framed by the court
Whether delay in filing the restoration petition by a banking institution can be condoned.
Whether the original application should be restored after being dismissed for default.
South Indian Bank Limited Mount Road Branch
M/s Nakodaa Computer Tech
Mr. Hemant Jain
SMT. S.V. GOWRAMMA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
