Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | 1993 – s.21 Recovery of Debts and Bankruptcy Act |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case(s) Referred | Referred Case 0 |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Recovery of Debts and Bankruptcy Act, 1993 – s.21 – Appeal before DRAT – Pre-deposit of the debt due – Waiver – Sustainability of – Held: In all cases fifty per cent of the decretal amount i.e. the debt due is to be deposited before DRAT as a mandatory requirement, but in appropriate cases for reasons to be recorded the deposit of at least twenty-five per cent of the debt due would be permissible, but not entire waiver – When further amount is due and payable in discharge of decree/recovery certificate issued by DRT, the High Court does not have the power to waive the pre-deposit in its entirety, nor can it exercise discretion against the mandatory requirement of the statutory provision –Any waiver of pre-deposit to the entire extent would be against the statutory provisions – High Court not justified in setting aside the order passed by DRAT – Order passed by High Court set aside – In the peculiar facts of the present case, the pre- deposit of twenty-five per cent of the amount as taken note by the DRAT is permitted – Order passed by the DRAT modified to this extent. Words & Phrases – s.21 – “appeal shall not be entertained” – Held: Such phrase injuncts the Appellate Tribunal from entertaining an appeal by a person from whom the amount of debt is due to the Bank, unless such person has deposited with the Tribunal, fifty percent of the amount of debt so due – Recovery of Debts and Bankruptcy Act, 1993 – ss.21,19. |
Judge | Hon'ble Mr. Justice Ajjikuttira Somaiah Bopanna |
Neutral Citation | 2021 INSC 90 |
Petitioner | Kotak Mahindra Bank Pvt. Limited |
Respondent | Ambuj A. Kasliwal & Ors. |
SCR | [2021] 3 S.C.R. 1001 |
Judgement Date | 2021-02-16 |
Case Number | 538 |
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