Debts Recovery Tribunals and Appellate Tribunals
M S Gurudeva Trust Rep by its Secretary Sajeevan T.P vs KOTAK MAHINDRA BANK LIMITED on 29 October 2024
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 29th day of October, 2024
PRESENT : HON’BLE MR. JUSTICE G. CHANDRASEKHARAN
CHAIRPERSON
IA 68/2023
in
AIR (SA) 373/2022
(Arising out of IA No. 2169/2022 in SA No. 469/2022 on the file of DRT-I Ernakulam)
Between
M/s. Gurudeva Trust,
Manjali, Mannam,
Ernakulam – 683 520.
Rep. by its Secretary.
Sajeevan. T.P. aged 65 years,
S/o. Purushothaman,
Thalamittath, Edavanakkad,
Ernakulam – 682 502.
..... Appellant
And
1. The Authorised Officer,
Authorised Officer,
Kotak Mahindra Bank Ltd,
4th Floor, Empire Building,
Near High Court of Kerala,
Kochi – 18.
2. Kotak Mahindra Bank Ltd,
Kanaka Damodar Building,
Veekshanam Road,
Kochi – 682 035.
Rep. by its Chief Manager.
….. Respondents
Counsel for Appellant
: M/s. Zakir Hussain & D. Durairaj
Counsel for Respondents
: M/s. Ananda Gomathy
Citations and Judicial Treatment
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ORDER
This Tribunal vide its dated 1.10.2024 directed the appellant to deposit 50% of Rs.12,90,40,850.85p within a period of four weeks from 1.10.2024 towards pre-deposit and the said period of four weeks had expired on 28.10.2024 and the matter was posted to this date for reporting compliance of deposit.
When the matter is taken up today, it is reported by the Office as well as by Ld. Counsel for petitioner/appellant that pre-deposit, as ordered by this Tribunal on 1.10.2024 is not complied with.
Under the circumstances, this application IA 68/2023 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 373/2022, by giving effect to conditional order dated 1.10.2024.
Sd/-
(JUSTICE G. CHANDRASEKHARAN)
CHAIRPERSON