The Delhi High Court directed the Chairperson, Debt Recovery Appellate Tribunals (DRAT) to decide application for waiver of deposit of 25% as there was dismissal of securitization application.
The senior counsel for the Petitioners stated that the impugned order has been challenged before the DRAT in Regular Appeal No. 387/2023 and that the Petitioners have deposited 25 per cent of the demand amount and have filed an application for waiver of the remaining pre-deposit amount. It was however states that the Chairperson, DRAT, Delhi has proceeded on leave for a month and that the Petitioners are left with no alternative efficacious remedy except approaching the High Court.
The counsel for Union of India stated that the Chairman, DRAT is on leave from 05th February, 2024 to 08th March, 2024 and that the Link Officer of the Chairperson, DRAT Delhi is DRAT Mumbai and that if the matter is to be urgently heard then the file is digitally transmitted to the Chairperson, Mumbai, who can either hear the counsel in person or virtually. It was admitted that between 06th February, 2024 and 09th February, 2024, the Chairperson, Mumbai was on leave and during that period the Link Officer was Chairperson DRAT, Chennai.
A Division Bench of Acting Chief Justice Manmohan and Justice Manmeet Pritam Singh Arora observed that “In view of the fact that the Chairperson, DRAT, Delhi shall be rejoining his duties on 11th March, 2024 and the Respondent No. 2 does not intend to take any coercive steps prior to 15th March, 2024, this Court disposes of the present writ petition with a direction to the Chairperson, DRAT to decide the Petitioners’ application for waiver of deposit of 25% as well as for other interim reliefs as expeditiously as possible but not later than 15th March, 2024.”
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