Borrower could not file appeal at his sweet will

In one of the Sarfaesi appeal filed against our Bank, the Ld. Debt Recovery Tribunal, Chennai was pleased to dismiss the application to condone delay of 255 days in filing Sarfaesi Appeal with cost of Rs 5,000.00 payable to our Bank.

 

The Ld. Tribunal observed that the very fact that the appellant has not given any reasons for the inordinate delay of 255 days compelled the Tribunal to draw an adverse inference to the effect that the present Sarfaesi appeal has been filed to frustrate and stall the recovery proceedings initiated by the Authorised Officer of the Bank to recover the legitimate dues of the Bank.

 

The Ld.Tribunal further observed that if applications of this nature are entertained and allowed and the inordinate delay of 255 days in filing the Sarfaesi appeal without offering any explanation and just cause for the inordinate delay is condoned, the very purpose for which the Sarfaesi Act has been enacted for the speedy recovery of legitimate dues of the Bank without intervention of the Courts and Tribunal would get defeated.