Debts Recovery Tribunals and Appellate Tribunals
T. Surendar Kumar Reddy vs INDIAN BANK on 28 October 2024
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 28th day of October 2024
PRESENT: HON’BLE MR. JUSTICE G. CHANDRASEKHARAN
CHAIRPERSON
IA 425/2023 (Waiver)
In
AIR (SA) 1023/2023
( arising out of TSA No.221/2023 on the file of DRT-II, Chennai)
Between
T. Surendar Kumar Reddy,
S/o T. Jayachanra Reddy,
No.24/9, Sivaprakasam Street,
Pondy Bazzar, Chennai 600 017.
…..Appellant
And
The Authorised Officer,
Indian Bank,
Stressed Assets Management Branch,
No.55, Wellington Estate, II Floor,
Ethiraj Salai, Egmore,
Chennai 600 008.
…..Respondent Bank
Counsel for appellant
: M/s A.J. Mohamed Kassim & Co.
Counsel for Respondent Bank : M/s P.V. Murlidhar & Co.
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ORDER
This Tribunal vide its dated 26.9.2024 directed the appellant to deposit 25% of Rs.4,56,17,211.76p within a period of four weeks from 26.9.2024 towards pre- deposit and the said period of four weeks had expired on 24.10.2024 and the matter was posted on 25.10.2024 for reporting compliance. At request of Ld. Counsel for both sides on 25.10.2024, the matter is posted from 25.10.2024 to this date.
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 26.9.2024 is not complied with. Ld. Counsel for appellant sought further time to comply with the condition. As it is a conditional order, request for further time is refused.
Under the circumstances, this application IA 425/2023 is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 1023/2023, by giving effect to conditional order dated 23.9.2024.
Sd/- (JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON