Debts Recovery Tribunals and Appellate Tribunals
Ram V Tyagarajan vs Union Bank of India on 2 August 2022
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson M.A. No. 1092/2017 (Withdrawal of Amount) In
(Appeal No. 90/2013-Disposed of) Between Ram V Tyagarajan … Appellant/s
V/s.
Union Bank of India …Respondent/s Mr. Ashwin B, i/b Ms. N.I. Bakali, Advocate for Respondent Bank. -: Order dated: 02/08/2022:- The Appellant had deposited an amount under Sec. 21 of the RDB Act. Appeal No. 90/2013 was ultimately dismissed and disposed of. The amount of ₹7 Crores which was directed to be deposited is still in deposit. The Respondent Bank had moved the Ld. Recovery Officer in R.P. No. 597/2016 for attachment of the amount in deposit before this Tribunal and an order of injunction was passed by the Ld. Recovery Officer on 20.06.2022 restraining the Appellant herein from withdrawing the amount in deposit. The R.P. is still pending consideration. The claim of the Bank for the amount in deposit will have to be decided by the Ld. Recovery Officer in R. P. No. 597/2016. Since the Appellant has not been appearing and has not raised any objection in M..A. No. 1092/2017, I assume that he has no objections and is not putting up any claim over the said amount. Under the circumstances, the application is disposed of with the direction to the Recovery Officer, D.R.T.-I, Mumbai to dispose of the R.P. No. 597/2016 as expeditiously as possible. Sd/- Chairperson mks-6