Dipen Dhirajlal Doshi & Anr. Vs Bank of India & Anr. (Bombay High Court)
The Bombay High Court heard a writ petition filed by the petitioners, who were a Director of the original borrower and a guarantor, seeking urgent relief in relation to proceedings before the Debts Recovery Appellate Tribunal (DRAT), Mumbai.
The petitioners had earlier filed Miscellaneous Appeal (D) No. 2765 of 2024 before the DRAT, Mumbai challenging an order passed by the Debts Recovery Tribunal. On 2 January 2025, the DRAT directed the petitioners to deposit Rs.40 lakh as a pre-deposit before hearing their waiver application. The amount was permitted to be deposited in instalments. Subject to compliance with this condition, the DRAT deferred the taking over of physical possession of the secured assets. The order further stated that any default in payment would automatically result in dismissal of the appeal without further reference to the DRAT.
The petitioners stated in their writ petition that they complied with the DRAT order by depositing the entire amount of Rs.40 lakh in instalments on 2 January 2025, 16 January 2025, and 30 January 2025. They asserted that after verification of these payments, the Tribunal extended the interim protection granted by the order dated 2 January 2025 from time to time. During the hearing before the High Court, the petitioners also produced documents supporting their claim of compliance with the deposit conditions, and the Court took those photocopies on record.
