Arun Kumar Sawla v. District Cooperative Central Bank

Appeal Dy. No. 506/2022 Date: 27.09.2022

Arun Kumar Sawla Vs. District Co-operative Central Bank

Present: Shri Ishita Arora, Advocate holding brief of Shri Sandeep Arora, counsel for the appellant,

Heard the learned counsel for the appellant on the waiver application being I.A. No. 273/2022.

Learned counsel for the appellant submits that in the securitization application filed under section 17 of the SARFAESI Act, it has been stated that steps taken by the respondent-bank are without complying with the mandatory requirement of law as envisaged in the SARFAESI Act and that the said proceedings have been initiated by the respondent-Bank only to expose harassment and inconvenience of defending litigation upon the appellant in arbitrary manner in order to grab the property, besides the fact that the notices under section 13(2) and 13(4) of the SARFAESI Act have been issued for exaggerated sum and the appellant is not bound to discharge such illegal demand. It is further argued that the case of the appellant is very good on merits, therefore, there should not be any demand of predeposit for prosecuting the appeal and the same may be waived.

No good ground has been made out by the appellant for waiving the amount of pre-deposit. Accordingly, the waiver application is dismissed. If the pre-deposit is not made by the next date, the appeal shall stand dismissed as not maintainable without reference to the court. If the amount is deposited, the appeal be listed on 28.11.2022 for waiver.

Justice R. D. Khare Chairperson

VN Giri