M/S Sri Sai Raghavendra Goat And Dairy Farm, v. The Preceding Officer, Debts Recovery Tribunal

THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN And THE HON'BLE SRI JUSTICE M.SATYANARAYANA MURTH Writ Petition No.13432 of 2015 ORDER: (per Hon'ble Sri Justice Ramesh Ranganathan) The order, under challenge in this writ petition, was passed by the Debts Recovery Tribunal, Hyderabad in I.A.No.1511 of 2015 in S.A.I.R.T.No.269 of 2015 dated 22.04.2015 directing the petitioner herein to deposit Rs.18,00,000/- directly with the 2nd respondent-Bank within eight (8) weeks, out of which Rs.9,00,000/- was to be deposited within four (4) weeks from the date of the order and the balance of Rs.9,00,000/- within four (4) weeks thereafter. As a result of the exercise of discretion by the Tribunal the petitioner is now required to pay only 30% of the total amount due to the respondent-Bank.

While we were initially inclined not to interfere with the order, Sri K.V.Rajendra Prasad, learned counsel for the petitioner would request that atleast some more time be granted to the petitioner to deposit the amount as directed by the Tribunal. Sri A.Srinivas Prasad, learned counsel for the respondent-Bank would submit that the time granted by the Debts Recovery Tribunal is reasonable, and does not necessitate interference. Considering the fact that the petitioner is a farmer, who claims to have lost the entire livestock on account of a disease, the order of the Debts Recovery Tribunal is modified to the limited extent that the petitioner is permitted to deposit Rs.9,00,000/- by 31.05.2015 and the balance of Rs.9,00,000/- by 30.06.2015.

Any failure on the part of the petitioner to deposit the amount, in terms of this order, would enable the respondent-bank to proceed and take action in accordance with law.

The writ petition is disposed of, accordingly. Miscellaneous Petitions pending, if any, shall also stand disposed of. There shall be no order as to costs. ______________________________

RAMESH RANGANATHAN, J __________________________________ M.SATYANARAYANA MURTHY, J 30th April 2015.

JSU THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN And THE HON'BLE SRI JUSTICE M.SATYANARAYANA MURTHY Writ Petition No.13432 of 2015 Date: 30.04.2015 JSU `