S. A. BOBDE, A. S. BOPANNA, V. RAMASUBRAMANIAN
KOTAK MAHINDRA BANK PVT. LIMITED – Appellant
Versus
AMBUJ A. KASLIWAL – Respondent
JUDGMENT :
A.S. Bopanna, J.
Leave granted.
2. The appellant is before this Court assailing the order dated 16.07.2019 passed in W.P.(C) No.7530 of 2019 whereby the High Court of Delhi has permitted the respondents No. 1 and 2 herein to prosecute the appeal before the Debts Recovery Appellate Tribunal (‘DRAT’ for short) without pre-deposit of a portion of the debt determined to be due, as provided under Section 21 of the Recovery of Debts and Bankruptcy Act, 1993 (‘RDBA Act’ for short). The appellant/Bank claiming to be aggrieved by the said order is before this Court in the instant appeal.
3. This Court while taking note of the matter at the first instance, had through the order dated 22.11.2019 directed the respondents No.1 and 2 to deposit an amount of Rs.20 Crores before the Registry of this Court within a period of 8 weeks. In the said order it was indicated that the further proceedings in the appeal before the DRAT shall remain stayed till the next date of hearing or till the date of deposit of the said amount by the respondents No.1 and 2, whichever is earlier. The deposit as directed by this Court has not been made by the respondents No.1 and 2. The appellant/Bank, therefore, al
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