Tribunals and CommissionsSingle Bench(2026) 05 DRAT CK 2855

M/s. I. Dreams & Anr. vs Punjab National Bank

Debts Recovery Appellate Tribunal, Chennai · Decided on 20 May 2026

HON’BLE JUDGES
G. Chandrasekharan, Chairperson
RESULT
Dismissed
CASE NUMBER
IA 388/2026 (Waiver) In AIR (SA) 488/2026 (Arising out of I.A.No.262/2026 in S.A.No.75/2026 on the file of DRT-III, Chennai)

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Judgment

4 paragraphs · 248 words

ORDER

When the matter is taken up, learned counsel for the petitioners/appellants submitted that the petitioners/appellants filed a writ petition before the Hon’ble High Court of Madras against the order passed in the waiver application and seeks time for obtaining orders.

2.

In the waiver application, this Tribunal passed an order on 02.04.2026 and posted the matter on 04.05.2026 for compliance of pre-deposit. On 04.05.2026, learned counsel for the petitioners/appellants submitted that due to death of 2nd petitioner’s mother in November, 2025, petitioners are not able to mobilize funds for making pre-deposit and requests time to comply with the pre-deposit order.

3.

Considering the representation, on face value, empathetically, this Tribunal granted extension of time for compliance of the order for making pre-deposit and listed the matter today for reporting compliance. Taking advantage of the time granted for mobilizing the funds, it appears that the petitioners/appellants moved the Hon’ble High Court of Madras by filing writ petition, however, it is not even numbered. The conduct of the petitioners/appellants show that they are not intended to make pre-deposit to entertain this appeal, but, interested in protracting the issue by filing writ petition. Despite giving time for making pre-deposit, pre-deposit is not made. Therefore, this Tribunal is not inclined to grant any further extension of time for making pre-deposit. Thus, the waiver application in IA 388/2026 is dismissed and consequently, appeal in AIR (SA) 488/2026 is rejected. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.