Recovery of Debts due to Banks and Financial Institutions Act, 1993: s.30 – Delay in preferring appeal under s.30 – Applicability of s.5 of Limitation Act for condoning delay – Held: s.5 of the Limitation Act shall not be applicable to the appeal against the order of Recovery Officer as provided under s.30 of the Act, 1993 – Limitation Act, 1963 – s.5.
Allowing the appeal, the Court
HELD: 1 In the case of *International Asset Reconstruction Company of India Limited, while dealing with the appeal under Section 30 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, after 2000 amendment, it was held that Section 5 of the Limitation Act is specifically excluded so far as appeal under Section 30 of the Act, 1993 is concerned. Thus, Section 5 of the Limitation Act shall not be applicable to the appeal against the order of Recovery Officer as provided under Section
30 of the Act, 1993. [Paras 7, 9][530-D-E; 531-C-D]
*International Asset Reconstruction Company of India Limited v. Official Liquidator of Aldrich Pharmaceuticals Limited and Ors., (2017) 16 SCC 137 : [2017] 10 SCR 199 – relied on.
2. The impugned judgment and order passed by the High Court and the order passed by the Debts Recovery Tribunal condoning the delay in preferring the appeal under Section 30 of the Act, 1993, preferred against the order passed by the Recovery Officer are unsustainable and deserve to be quashed. The order passed by the DRAT setting aside the order passed by the Debts Recovery Tribunal is restored. [Para 10][531-E-F]
A.R. Venugopal Alias R. Venugopal v. Jotheeswaran and Ors., (2016) 16 SCC 588 – referred to.
As published in the Supreme Court Reports, Supreme Court of India. Text from the Indian Supreme Court Judgments open data set (Dattam Labs), CC BY 4.0.
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