DRAT Refuses to Condon Delay in Challenging Ex-Parte Decree; Recovery Order Upheld

Nirman Sudha Vs Housing .and Urban Development Corporation Ltd. (HUDCO) (DRAT Allahabad) The present appeal before the Debt Recovery Appellate Tribunal (DRAT), Allahabad, was filed under Section 20 of the Recovery of Debts and Bankruptcy Act, 1993 (“RDB Act”) challenging an order dated 08.08.2017, in which the Miscellaneous Application (M.A.) filed by the appellants was dismissed as barred by time. The case arose from financial assistance granted in August 2004 by the respondent financial institution (FI) to the appellants, who executed a deed of guarantee, created an equitable mortgage o...