Debts Recovery Tribunals and Appellate Tribunals
L S INDUSTRIES vs CANARA BANK on 31 December 2024
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 31st Day of December, 2024
PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan CHAIRPERSON
IA 634/2024 (Waiver)
In
AIR (SA) 962/2023
(Arising out of IA 1073/2023 in SA 193/2023 on the file of DRT, Coimbatore)
Between
1. M/s. L S Industries,
No.4/210 F3, Pollachi Main Road,
Eachanari,
Coimbatore — 641 021.
2. M/s. Jayasuryaa Industries,
No.2/169A, JP Garden,
Nadupalayam Post, Sulur Block,
Peedampalli, Coimbatore – 641 016
3. Mr.Jayakrishnan
No.18, Sakkarai Chettinar Nagar,
Uppilipalayam Post,
Coimbatore – 641 015
…Appellants
And
Cananra Bank,
Rep. by its Authorised Officer,
ARM Branch,
1st Floor, Regional Office, TV Samy Road, RS Puram, Coimbatore – 641 002
…..Respondent
Counsel for Appellant s
: Mr.Deepak Kumar
Counsel for Respondent
: Mr.S.Pandurangan
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ORDER
This matter is coming up today for reporting compliance of statutory deposit. This Tribunal vide its order dated 29.11.2024 directed the petitioners/appellants to deposit 25% of Rs.4,11,37,617.48p within a period of four weeks from 29.11.2024 towards pre-deposit and the said period of four weeks had expired on 27.12.2024 and the matter was posted to this date for reporting compliance. When the matter is taken up today, it is reported by the Office as well as by Ld. Counsel for petitioners/appellants that pre-deposit, as ordered by this Tribunal on 29.11.2024 is not complied with. Ld. Counsel for respondent is present. Under the circumstances, this application IA 634/2024 (Waiver) is dismissed for non compliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 962/2023, by giving effect to conditional order dated 29.11.2024.
Sd/- [Justice G. Chandrasekharan] CHAIRPERSON
Page 2 of 2
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