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Judgment
Ashok Menon, Chairperson
The application for waiver of deposit was disposed of by this Tribunal vide order dated 25.08.2022 directing the Appellants to pay a sum of ₹15.00 Lakhs as a mandatory deposit under the second proviso of Sec. 18 (1) of the SARFAESI Act in three equal instalments of₹.5.00 Lakhs each. The first instalment which was due to be paid on 01.09.2022 was paid on time and the same is recorded. The second instalment of ₹5.00 Lakhs was due on 13.09.2022 which was not paid. The Appellants filed an application seeking an extension of four weeks’ time on the ground that the second Appellant had been admitted to the hospital with chest pain on 12. 09.202 (which is on the eve of the date of deposit). A certificate is also produced along with the application which is at Diary No. 910/2022 and the defects pointed out by the Registry, yet to be cured, state that Appellant No.2 is suffering from chest pain. No further details of her medical condition are made available. The learned counsel for the Appellants orally submits that Appellant No.2 is having a cardiac arrest and may have to undergo angioplasty. But unfortunately, there is no such medical evidence to support that submission. The order dated 25.08.202 is self-working and on non-payment of the second instalment of ₹5.00 lakhs on or before 13.09.2022, the Appeal would stand dismissed automatically, without further reference to this Tribunal. The reason stated in the application for extension of time does not appear to be genuine, and acceptable.
Under the circumstances, the Appeal stands dismissed for non-compliance of order dated 25.08.2022 in I.A. No. 390/2022 i.e. an application for waiver of pre-deposit.
All Miscellaneous Applications, if any, are dismissed as infructuous.