SAI ENTERPRISES Vs. DEBTS RECOVERY APPELLATE

JUDGEMENT

(1.) The present petition has been filed by the petitioner challenging the order dtd. 3/1/2023 whereby the restoration application filed by the petitioner has been rejected on the ground of limitation.

(2.) The facts in brief are that the proceedings were initiated by the respondent Bank against the petitioner before the Debts Recovery Tribunal, Patna which was decided against the petitioner. Against the order of DRT, Patna, the petitioner preferred an Appeal before the Debts Recovery Appellate Tribunal, Allahabad, however, the petitioner had not made any deposit along with the appeal as is required under Sec. 21 of The Recovery of Debts and Bankruptcy Act, 1993.

(3.) From the documents as on record, it appears that the petitioner was granted time to make the deposit, however, he has not deposited which led to the dismissal of the appeal. Subsequently, when the petitioner arranged the funds, he moved an application for deposit of an amount of Rs.20,00,000.00 and sought recall of the order dtd. 21/1/2020 whereby the appeal was dismissed for want of pre-deposit and prayed that the said order be recalled and decided on merit. The said recall application has been dismissed by means of the impugned order dtd. 3/1/2023 mainly on the ground that the restoration application has been filed after expiry of two and a half years and the same is highly belated.