S. Gandhi v. Authorised Officer, Jammu & Kashmir Bank
2015-01-20
M.VENUGOPAL, SATISH K.AGNIHOTRI
body2015
DigiLaw.ai
Judgment :- Satish k. Agnihotri, J. 1. Challenge in this petition is to the order dated 13.01.2015, whereby the Debts Recovery Tribunal-II at Chennai, while admitting the appeal, had granted stay subject to payment of 20% of Rs.4.10 Crores on or before 19.01.2015. 2. Mr. N.R.Chandran, learned Senior Counsel appearing for the petitioner would submit that the interim order is not a reasoned one and also the petitioner is in financial difficulty to arrange 20% of Rs.4.10 Crores for payment on or before 19.01.2015. It is further contended that if some time is not granted to make necessary payment, the petitioner would suffer irreparable loss and damage. The petitioner has a good case before the Tribunal. 3. We have considered the submissions and also perused the pleadings and documents. Having regard to the fact that the instant writ petition is filed against the interim order, we do not propose to interfere with the same. However, we deem it fit and proper to grant further one week time from today to make the payment of 20% of the aforestated amount, as directed by the Tribunal. Needless to state that no consequential action will be taken for a further period of one week from today as a consequence of non payment of 20% of the aforestated amount before 19.01.2015. The writ petition is, accordingly, disposed of. No costs. Consequently, connected miscellaneous petition is closed.