M/S.Machine Tools & Accessories (P) Ltd vs The Debts Recovery Appellate Tribunal on 3 December, 2010
In the facts fully detailed above, the Petitioners cannot be permitted to challenge the orders passed by the Civil Court or by the Tribunal at Jaipur, having availed of an alternative remedy of filing an appeal which as referred to above, was not taken to its logical ends. Faced with this situation Mr.Mohanta, the Learned counsel appearing for the Petitioners then urged that the orders passed by the Appellate Tribunal directing the Petitioners to deposit Rs.5 lacs as condition precedent was illegal and without jurisdiction. He is, however, unable to support his contention either from the provisions of the statute i.e. The Act of 1993 or from any judicial precedent. On the contrary the order of the Appellate Tribunal can well be supported from the provisions of the statute i.e. The Act of 1993 which requires deposit of 75% of the amount of debt as a condition precedent for filing an appeal provided the Appellate Tribunal reduces the amount to be deposited. Section 21 of the Act reads as follows:-