9911796707
TMI Blog2024 (11) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... ing for condonation of 3 days delay in filing the appeal. Sufficient cause has been shown in para 2 and 4 for condonation of delay. Delay condoned. IA No. 3955 of 2024 This is an application praying for condonation of 78 days delay in refiling of the appeal. The Ld. Counsel for the Appellant submits that the Appellant has cured the defect within the stipulated time thereafter the appeal remained in scrutiny and Registry is re-notified the defects on 05.04.2024 in para 5 to 8. Sufficient cause has been shown for condonation of refiling delay. Refiling delay condoned. Comp. App. (AT) (Ins) No. 1099 of 2024 Heard Counsel for the Appellant as well as Ld. Counsel appearing for the Respondent. This appeal has been filed against the order da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by borrower a notice of demand be issued by the lead bank and hence the notice ought to have been issued. It is submitted that notice which was issued in 2014 cannot be basis for filing the application in 2022 and further notices were required to be issued to the guarantor. Ld. Counsel for the Respondent refuting the submission contended that all facts pertaining to the limitation relevant dates and pleadings for extension of limitation were made in the application itself. It is submitted that Corporate Debtor has offered twice OTS on 28.11.2016 and 07.09.2017 which shall clearly extend the limitation under Section 18 of the Limitation Act. It is further submitted that OA No. 394 of 2014 was filed against the corporate debtor and other gu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur of the Applicant/State Bank of India by the DRT, Bench-II, New Delhi on 28.01.2019. Copy of the decreed final order dated 28.01.2019 passed by Ld. DRT-II, New Delhi is annexed herewith as Annexure-W". 7. The above pleadings made by the State Bank of India clearly contains the extension of limitation under Section 18 of the Limitation Act when the pleadings are on the record which provide for extension of limitation no error can be said to be committed by Adjudicating Authority in admitting Section 95 application against the personal guarantor. We are satisfied that application filed under Section 95 was not barred by limitation and on this ground no error can be found. 8. Ld. Counsel for the Appellant relies on paragraph 1 of the guar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Bank. 7. Therefore, I call upon all of you by issuing this notice to discharge in full your liabilities stated hereunder to the Bank within 07 days from the date of this notice. Your outstanding liabilities in aggregate due and owing to the Bank is in the sum of Rs. 35,49,85,748.25/- (Rupees Thirty Five Crores Forty Nine Lacs Eighty Five Thousand Seven Hundred Forty Eight and Paise Twenty Five Only) as on 25.08.2014. You are also liable to pay future interest on the contractual rate on the aforesaid amount compounded with monthly rests with incidental expenses and costs, charges etc. 8. If you fail to repay to the Bank the aforesaid sum of Rs. 35,49,85,748.25/- (Rupees Thirty Five Crores Forty Nine Lacs Eighty Five Thousand Seven Hu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
