NCDEXE MARKETS LIMITED Vs. CANARA BANK

JUDGEMENT

(1.) The Writ Petition has been filed assailing an order dtd. 25/4/2025 passed by the Debts Recovery Appellate Tribunal at Kolkata ('DRAT') dismissing an Application (I.A. No.38 of 2025) filed by the petitioner for condonation of delay of 81 days in filing the Appeal against the order passed by the Debts Recovery Tribunal-II at Hyderabad ('DRT') on 25/1/2024 in O.A.No.120 of 2020.

(2.) The petitioner (appellant before the DRAT) is the respondent No.4 in O.A.No.120 of 2020 filed by the respondent No.1-Canara Bank before the DRT under Sec. 19 of The Recovery of Debts and Bankruptcy Act, 1993 ('RDB Act'). O.A.No.120 of 2020 was filed against several parties including the petitioner for a direction on the respondents therein to pay the Bank an amount of Rs.22,96,128.00 and for issuance of a Recovery Certificate in terms of all the reliefs prayed for. The DRT allowed O.A.No.120 of 2020 by order dtd. 25/1/2024. The petitioner challenged the DRT's order by filing an Appeal before the DRAT (Appeal Diary No.1131 of 2024) along with an Application (I.A.No.38 of 2024) for condonation of delay of 81 days in filing the said Appeal. The petitioner's Application for condonation of delay was dismissed by the DRAT on the ground that the petitioner failed to make out 'sufficient cause' for condonation of delay. The petitioner's Appeal was consequently dismissed as time-barred.

(3.) The issue before this Court is whether the DRAT was correct in dismissing the petitioner's Application on the grounds stated in the impugned order dtd. 25/4/2025.