HC dismisses bank’s plea against DRAT order

The Telangana High Court declined to interfere with an bid passed by the Debt Recovery Appellate Tribunal-Kolkata dismissing its interim exertion to condone hold of 169 days successful appealing against an bid of Debt Recovery Tribunal-Hyderabad order.

A seat of Justices Moushumi Bhattacharya and Gadi Praveen Kumar dismissed the writ petition filed by the Bank of Baroda (e-Vijaya bank) of ARM subdivision successful Hyderabad successful the matter. In 2019, the DRT-Hyderabad directed the slope to refund the bid magnitude of ₹4.64 crore to Kosetty Krishna, who participated successful the auction of a non-performing asset, astatine the elemental involvement complaint of 5%.

Challenging this order, the slope approached the HC. On April 29 of 2024, the HC ordered the slope to record an entreaty earlier the DRAT wrong 8 weeks. However, the slope filed the entreaty connected December 10 of 2024, 224 days aft the HC passed the order, seeking condonation of the hold of 169 days successful filing the appeal. The DRAT dismissed the appeal.

Upholding the DRAT decision, the HC part seat dismissed the bank’s plea observing that the facts of the lawsuit suggest that the slope was ‘lethargic and lax successful taking their work to comply with the HC’s absorption with seriousness’.