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Judgment
Ashok Menon, Chairperson
The matter is taken up for hearing by way of a praecipe filed by Appellants for seeking urgent relief.
The Appellants were directed to deposit a sum of ₹ 5 crores as pre-deposit by this Tribunal vide order dated 08.11.2023 and the Appellants paid ₹ 25,00,000/- as initial deposit and the balance was directed to be paid in instalments of ₹ 2.5 crores and ₹ 2.25 crores respectively on 29.11.2023 and 20.12.2023.
The Appellants sought an extension of time by filing I.A. No. 801/2023 vide order dated 11.12.2023 one extension was granted. Thereafter, there was another extension granted on 01.01.2024 to the Appellants to pay the entire balance of ₹ 2.75 crores on or before 15. 01.2024 and it was also made clear that there would be no further extension granted and the appeal would stand dismissed in case the amount is not paid on 15.01.2024.
The Appellants have filed this application again for extension seeking three weeks to pay ₹ 75,00,000/- and seek further extension of three weeks each for paying the balance. This Tribunal has been indulgent enough to grant extension twice, and while granting the last extension on 01.01.2024, it was made clear that no further extension would be granted.
The Appellants have deposited a sum of ₹ 50,00,000/- on 05.01.2024 and seek time to pay the balance of ₹ 2.25 Crores in instalments with a gap of three weeks each. The Appellants have been granted sufficient time to pay the balance. The granting of further extension would not be unjust to the creditors who have been waiting for recovery of the amount for too long and there is also a large amount to be recovered.
Hence, an extension cannot be granted and the application is dismissed, as a result, the appeal also stands dismissed.
Misc. Applications, if any, are dismissed as infructuous.