Dinesh Rikabchand Kothari v. State Bank of India

BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI Present : Mr. Justice Ashok Menon, Chairperson

I.A. No. 236/2022 (WoD) In Appeal on Diary No. 427/2022

Between Dinesh Rikabchand Kothari … Appellant/s V/s. State Bank of India … Respondent/s

Mr. Sidharth along with Ms. Bhagyashree A. Keny, Advocate for Appellant.

Ms. Merlyn Monterio, Advocate for Respondent.

-: Order dated: 06/07/2022 :-

Heard the submissions of the learned counsel for the parties.

Application for waiver of pre-deposit was taken up for the hearing today. The respondent bank has filed its reply on this application but when the application was heard for some time, I understand that the appellant claims one-third ownership in the property which is said to be the secured asset, and proceeded against under the SARFAESI Act. It is stated that the property had actually devolved upon him and other legal heirs including his brother and their mother. Each one of them has one-third right. The Bank is proceeding under the premise that the property belongs to the mother alone.

Appellant has documents to show that property belonged to his father and he had inherited this property and devolved upon him and his brother and mother.