Nandi Infrastructure v. Uco Bank
Case brief
What is this about?
Pre-deposit under S.21 RDDBFI Act, 1993 by third-party claimants to secured assets; maintainability of DRAT appeal without borrower/guarantor status; Nandi Infrastructure Corridor Enterprise Ltd. and Nandi Economic Corridor Enterprises Ltd. v. UCO Bank; restoration of AIR No.285/2014 on deposit of Rs.34.00 lakhs within 15 days; finality of DRAT dismissal on default; Articles 226/227 challenge to DRAT, Chennai orders dated 03.05.2017 and 13.03.2019; DRT Bangalore decree in OA No.49/2013 for Rs.1.34 Crores; BMICP land acquisition; interim stay dated 30.05.2017.
What did the court decide?
W.P.No.22768/2017 dismissed - petitioners held bound to make the statutory pre-deposit of Rs.34.00 lakhs under Section 21 of the RDDBFI Act, 1993. W.P.No.15563/2019 disposed with liberty to the petitioners to make the pre-deposit of Rs.34.00 lakhs before the DRAT, Chennai within 15 days; on such deposit AIR No.285/2014 to be restored to its original number and proceeded on merits; on failure, the DRAT's dismissal of the appeal attains finality.