Chhutu Sharma v. Union Bank of India
Case brief
What is this about?
In this appeal, the Tribunal considered a request for a waiver of the mandatory 50% pre-deposit under Section 13(2) of the SARFAESI Act. The appellant, citing financial crunch, requested a 25% deposit. The Court directed a 30% deposit within four weeks as a condition for the waiver and continuation of the appeal.
What did the court decide?
Directed the appellant to deposit 30% of the total dues within four weeks.
What the court decided
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Appeal Dy. No. 412 of 2022)
(IA No. 276 of 2022)
(Arising out of S.A. 57 of 2020 in DRT-Siliguri)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
09.09.2022
Chhutu Sharma
… Appellants
-Vs-
Union Bank of India … Respondents Mr.P. Pal, learned counsel with Ms. S. Pal, ld. Counsel for the appellants. Mr. Utpal Saha, learned counsel for the respondent.
THE APPELLATE TRIBUNAL :
Heard learned counsel for the parties and perused record.
Issues for consideration
2 issues framed by the court
Whether the appellant entitled to 25% pre-deposit instead of 50% due to financial hardships.
Whether allowance of lower pre-deposit can be granted when sale was not confirmed.
Parties & counsel
- appellant
Chhutu Sharma
- respondent
Union Bank of India
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
All orders in this case
11 orders share this CNR
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