Supreme Court of India · 2021-02-16
KOTAK MAHINDRA BANK PVT. LIMITED vs AMBUJ A. KASLIWAL
- Citation / case number
- SC 2019/30172
- Court
- Supreme Court of India
- Petitioner
- KOTAK MAHINDRA BANK PVT. LIMITED
- Respondent
- AMBUJ A. KASLIWAL
- Author
- HON'BLE MR. JUSTICE A.S. BOPANNA
- Bench
- HON'BLE THE CHIEF JUSTICE, HON'BLE MR. JUSTICE A.S. BOPANNA, HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN
Judgment text excerpt
The Supreme Court addressed an appeal by Kotak Mahindra Bank against a Delhi High Court order allowing respondents to pursue an appeal before the Debts Recovery Appellate Tribunal without pre-depositing a portion of the debt as mandated by the Recovery of Debts and Bankruptcy Act, 1993. The Court noted that the respondents failed to comply with a prior order to deposit Rs. 20 Crores, leading to the Bank's contempt petition. The Court emphasized the importance of adhering to procedural requirements in debt recovery cases.