HAMOSONS APPARELS PVT LTD Vs. INDIAN BANK

JUDGEMENT

(1.) Heard the learned counsel appearing for the petitioners, as well as the learned counsels appearing on behalf of the respondents concerned. The present writ petition has been filed by the petitioners stating that the order passed by the Debts Recovery Appellate Tribunal, Chennai, dated 21.6.2013, in IA No. 1614/2010, in AIR (SA) No. 942/2010 (SA SR No. 7110/2009), the fourth respondent herein, is arbitrary, illegal and void.

(2.) The Debts Recovery Appellate Tribunal had passed the order, dated 21.6.2013, directing the petitioners to deposit a sum of Rs. 2,26,72,500/-, on or before 20.7.2013, as the pre-deposit for the hearing of the appeal filed by the petitioners. It had also been stated that, in the event of the petitioners failing to deposit the said amount within the time limit prescribed by the Tribunal, the petition would stand dismissed, automatically.

(3.) The learned counsel appearing on behalf of the petitioners had submitted, inter alia, that the order passed by the fourth respondent Appellate Tribunal is contrary to law and the facts of the case. The Tribunal had passed the impugned order, dated 21.6.2013, directing the petitioners to make a pre-deposit of a sum of Rs. 2,26,72,500/-, without taking into account a number of issues raised before it and without considering the claim of the petitioners that they are not liable to pay the amount said to be due from them.