1990 (4) TMI 141

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..... m, Member (J) (Oral)]. - This is an application for modification of the Order of the Tribunal dated 25th Sept. 1989 in SB/S/Order No. 170/89 directing the petitioner to make the pre-deposit of a sum of Rs. 2 lakhs. Shri Anand, the Learned Chartered Accountant, appearing for the petitioner, submits that the petitioner has already deposited a sum of Rs. 25,000/-. It is urged that the production of .....

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..... Learned Consultant further submitted that in respect of a total loan amount of Rs. 148.15 lakhs taken from Karnataka State Financial Corporation, the petitioner has defaulted. Even in respect of the loan due to the bank, it was submitted, that as against the sanctioned limit, the petitioner has already overdrawn. 2. Shri K.K. Bhatia, the Learned S.D.R. submitted that he has received instructions .....

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..... bankers and above all, keeping in mind that these factual information have also been confirmed by the Department on verification, we are inclined to think that in the above facts and circumstances, the order of the Tribunal would call for a modification. To a specific query with reference to the offer of the Learned Consultant of making a pre-deposit of Rs. 2 lakhs it was submitted that subsequent .....

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