M.S. MANIAM Vs. STATE BANK OF MYSORE

JUDGEMENT

(1.) HEARD the learned counsel appearing or the petitioner, as well as the learned counsel appearing on behalf of the respondent Bank.

(2.) THIS writ petition has been filed challenging the order of the Debts Recovery Appellate Tribunal, Chennai, dated 9.7.2013, made in M.A.No.664 of 2010. The Debts Recovery Appellate Tribunal, Chennai, had passed the order, dated 9.7.2013, directing the appellant therein, the petitioner in the present writ petition, to deposit a sum of Rs.24,00,926/ -, into the Tribunal, on or before 8.8.2013. It had also been stated that, in the event of the petitioner failing to do so, the petition would stand dismissed, automatically.

(3.) IT had been stated that the Tribunal had failed to note that there is no provision in the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, requiring the petitioner to deposit 75% of the Debt determined, by the Tribunal, on an application moved for the condoning of the delay in the filing of the application to set aside an ex parte order.