M/S Harshit Power and Ispat Pvt. Ltd. v. State Bank of India and Anr.

Appeal Dy. No. 148/2021 Date: 06.07.2022

M/s Harshit Power and Ispat Pvt. Ltd. Vs. State Bank of India & Anr.

Present: Shri M. K. Srivastava, counsel for the appellant, Shri Jitendra Sarin, counsel for the respondent-Bank, Shri V. K. Shukla, counsel for the respondent no. 2,

Learned counsel for the respondent no. 2 submits that he will file reply within 48 hours after serving copy of the same upon the counsel for the appellant. Let the same be filed within 48 hours after serving a copy of the same upon the counsel for the appellant, who may file rejoinder by the next date.

Learned counsel for the respondent-Bank submits that he has not been served with copy of memo of appeal. Learned counsel for the appellant is directed to serve the same within 48 hours upon the counsel for the respondent-Bank, who may also file reply by the next date.

The office report dated 05.07.2022 shows that the appellant was directed by this Tribunal vide order dated 02.09.2021 to tender the minimum 25% of the amount due towards predeposit on or before the next date, so that the waiver application may be heard on the next date, but till date no amount has been deposited by the appellant towards predeposit. However, the learned counsel for the appellant submits that the respondent-Bank has realized more than 50% of the amount due from the auction sale of the property, therefore, no further amount is required to be deposited towards pre-deposit.

The learned counsel for the appellant shall argue on maintainability of the appeal in absence of the mandatory pre-deposit on the next date.