S.J.VAZIFDAR, ARUN PALLI
Bhagwati Printers Private Limited – Appellant
Versus
IDBI Bank Limited – Respondent
S.J.VAZIFDAR, J.
The question of law that arises in this petition is whether an appeal under Section 18 of the Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act') is maintainable against an order of the Debt Recovery Tribunal dismissing an application under Section 17 of the Act on the ground of limitation. It is contended that an order dismissing an application for condonation of delay in filing an appeal under Section 17 is not an order under Section 17 and is therefore not appealable under Section 18 of the Act. Based on this contention it is alleged that the petitioners have no alternate remedy.
2. We have not accepted this submission. We have held that such an order is appealable and have accordingly relegated the petitioner to the alternate remedy under the SARFAESI, Act.
2. Section 5 of the Limitation Act reads as under:-
“5. Extension of Prescribed period in certain cases.-Any appeal or any application, other than an application under any of the provisions of Order XXI of the Code of Civil Procedure, 1908 (5 of 1908), may be admitted after the prescribed period, if the appellant or the applicant sati
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