M/ S Gupta Trading Co. and Anr. v. Bank of India and 4 Ors.

Appeal Dy. No. 771/2022 Date: 19.10.2022

M/s Gupta Trading Co. Vs. Bank of India & Ors.

Present: Shri Akshat Agrawal along with Shri Ramendra Pal Singh, counsel for the appellant, Shri Alok Rai, counsel for the respondent-Bank, Shri Ashok Pandey, counsel for the respondent no. 5-Auction Purchaser,

Since the matter has been taken up, therefore, the urgency application is disposed off.

Learned counsel for the appellant submits that the borrower has deposited entire demanded amount by way of demand draft no. 000243 dated 11.10.2022 for Rs. 3,05,29,737.61 with the Registrar of this Appellate Tribunal. He further submits that the interest as due shall also be paid as determined by this tribunal.

Learned counsel for the auction purchaser submits that the auction has been held in favour of the auction purchaser and sale has been confirmed as well as sale certificate has also been issued, therefore, the appellant-borrower has nothing to dispute.

In view of the above, the learned counsels for the Bank as well as the auction purchaser state that they also propose to file appeal against the impugned order.

Let the respondents file reply to the present appeal by the next date.

List this case on 27.01.2023 for reply. Till then, the parties concerned are directed to maintain the status quo qua the property in question as it exists today.