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Tribunals and CommissionsSingle Bench(2026) 06 DRAT CK 1154

M/s. K.K. Press Tools and Components Private Limited & Ors. vs The Authorized Officer, Indian Bank & Ors.

Debts Recovery Appellate Tribunal · Decided on 16 June 2026

HON’BLE JUDGES
G. Chandrasekharan, Chairperson
RESULT
Dismissed
CASE NUMBER
IA 1617/2025 (Waiver) in AIR (SA) 1540/2025 (Arising out of S.A.No.458/2023 on the file of DRT-III, Chennai)

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Judgment

6 paragraphs · 164 words

ORDER

Learned counsel for the petitioners and the learned counsel for the first respondents-Bank are present.

2.

This matter is coming up today for reporting compliance of statutory deposit.

3.

This Tribunal, vide its order dated 15.05.2026, directed the petitioners/appellants to make pre-deposit of 25% of Rs. 6,15,56,000/- in two equal instalments within a period of four weeks from 15.05.2026 and the said period of four weeks had expired on 12.06.2026 and the matter was posted to 16.06.2026 for reporting compliance.

4.

When the matter is taken up today, it is reported by the Office and the learned counsel for the parties that pre-deposit, as ordered by this Tribunal on 15.05.2026, is not complied with.

5.

Under the said circumstances, this application in IA 1617/2025 (Waiver) is dismissed for non-compliance of statutory deposit, resulting in rejection of Appeal in AIR (SA) 1540/2025, by giving effect to the conditional order dated 15.05.2026. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.