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Judgment
Ashok Menon, Chairperson
The matter is taken up for hearing by way of a praecipe filed by the appellants for seeking urgent relief.
As per the order dated 05.11.2024 in Interlocutory Application No. 439/2024 (I.A.), the appellants were directed to deposit a sum of ₹25 lakhs towards pre-deposit for entertaining this appeal. On the date of the order, a sum ₹3 lakhs was deposited by way of a demand draft. The balance amount was directed to be paid in two equal instalments a sum of ₹11 lakhs each.
On 19.11.2024 a sum of ₹11 lakhs was paid within the stipulated time. Towards the 2nd instalment, a sum of ₹11 lakhs is due and payable on 3.12.2024. The appellants could not pay any amount to date toward a sum of ₹11 lakhs and have now filed the I.A. No. 843/2024 for an extension of time.
The appellants are seeking an extension of six weeks to pay the 2nd instalment for the reason that they have other expenses and are under financial strain. The bank had an amount paid by the appellants in sundry accounts. The Ld. Counsel appearing for the bank under instruction had submitted it was not appropriated toward the debt due. Hence, the bank was directed vide order dated 25.11.2024 to produce that amount for being considered as part of the pre-deposit. Now it is submitted by the counsel for the bank that they will not be able to produce the amount since that amount in the sundry account has already been appropriated toward the debt due.
The respondent bank has to file an affidavit for non-compliance with this order dated 25.11.2024 otherwise, face contempt. Given the submission made by the Counsel appearing for the appellants, that they are not in a position to pay a sum of ₹11 lakhs on time, an extension is granted. The said amount a sum of ₹11 lakhs shall be paid within the period of two weeks from today. It is made clear that no further extension will be granted to the appellants.
In default in payment of any of the amount/instalment on time shall entail the dismissal of the appeal without any further reference to this Tribunal.
List the matter on 17.12.2024 for reporting compliance regarding the payment of the 2nd instalment of pre-deposit.