MS EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED vs M S ALPS INDUSTRIES LIMITED AIL on 15 December 2021

IN TFM DEBTS RECOVERY TRIBTINAL LUCKNOW Present: A. H. Khan, Presiding Officer Dated of order 15.12.2021 In M.A. No. 47 of 2021 Sl. No. 85 Present:- Ld. Counsel for the applicant Mr. Hashmat Nabi Ld. Counsel for the SBI present Remaining respondents None Counsel for the applicant bank stated that bank had filed O.A. for recovery of Rs. 20,32,02,36,724.00 against the defendants before this Tribunal. The counsel for the applicant bank requested his local counsel to appear and filed substitution application on 22.9.2021 which was filed and next date was fixed on 5.10.2021. On that date the counsel for the bank was busy before the Hon'ble DRAT Delhi and Hon'ble NCLT therefore he could not appeared and the O.A. was dismissed for non-prosecution. Immediately on coming to know of the dismissal order the applicant bank had filed this recall application on 21 .10.2020. Heard the counsel for the applicant bank and State Bank of India. Considering the facts mentioned in the application and no objection submitted by the counsel appeared today. The present recall application has been filed within the limitation period and huge public money is involved in the matter, therefore, I feel it fair and judicious to recall the order of dismissal dt. 5.10.2021 subject to cost of Rs. 11,000/- to be deposited with the Lucknow DRT Bar Association (LDBA). On deposit of cost, the case will be restored to its original number and stafus. With the above observation, the misc. application is disposed of. '/ ,/ -n' Let the file be consigned to record. ,/ 7 @.b( Khan) Presiding Officer