Ashok Menon, Chairperson
1. The respondents have not filed a reply despite being given sufficient chance to file the reply and therefore, the matter proceeded without a reply and the Ld. Counsel for the appellant was heard.
2. The respondents have now filed an application for condonation of delay in filing the reply to this appeal. There is not much scope for filing the reply but anyhow, in the reply, the respondents have contended that there is an OTS proposal given by the appellant bank for a total sum of ₹ 1,40,66,336.59 and has directed that at least 10% of the tentative amount be paid on or before 31.12.2024 and the balance have to be paid in instalments with maximum 90 days from the date of issuance of Letter of Approval (LoA), but not later than 25.03.2025.
3. The respondents are eager to seize the opportunity and settle the matter and therefore, the Ld. Counsel appearing for the respondents submits that an opportunity be granted for settling the matter hence, the reply be received.
4. The Ld. Counsel appearing for the appellant has vehemently opposed this application stating that the limited scope of this appeal is whether the pendente lite interest ordered by the impugned judgment is proper or not, and therefore, it would not affect the respondents in any manner. It is also submitted that the respondents did not appear in the O.A. and they were set ex-parte, and therefore, they do not have any right to contest this appeal.
5. The reasons for filing the reply are only to bring to the knowledge of this Tribunal that there is an OTS proposal which is underway and that the respondents are eager to settle the matter and they have time till the end of December to pay 10% of the offer.
6. To show the bonafides the appellants would have to pay a sum amount and therefore, considering the entire facts and circumstances, the application is allowed and the reply is received subject to payment of ₹ 5 lakhs to the respondent within 15 days.
7. Failing which, this application to receive the reply shall stand dismissed. The amount shall be paid directly to the appellant bank and acknowledgement regarding the same be produced. The payment made shall be adjusted towards the proposed OTS amount.
List on 13.11.2024 for further hearing.
