Appeal against DRt order refusing stay on asset auction. Tribunal found auction confirmed, no prima facie case for bail, but entertained appeal contingent on depositing 50% dues.
Direction to deposit 50% of the due amount (Rs. 1,46,83,246/-) within two weeks; automatic dismissal if default.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson I.A. No. 455/2022 (CoD)
In
Appeal on Diary No. 832/2022
Between
Shivaji Jaisingh Jadhav … Appellant/s V/s.
The Karad Urban Co-operative Bank Ltd. & 7 Ors.
… Respondent/s
Mr Raunak Shah along with Mr. Jay Mehta, i/b M/s. Ronak Shah & Co., Advocate for Appellant.
Ms. Shobita Jadhav, i/b M/s. SP Law PCPL, Advocate for Respondent No.1.
-: Order dated: 22/09/2022:-
1
matters are yet to be considered and decided by the learned Presiding Officer.
Sd/Chairperson
dpj-8
2
3 issues framed by the court
Whether the appeal under Section 18(1) of the SARFAESI Act should be entertained given that the auction has already been confirmed.
Whether the appellant has made out a prima facie case for invoking the discretion to stay proceedings under the third proviso to Section 18(1).
Whether the condition precedent under the second proviso to Section 18(1) for depositing 50% of the due amount is satisfied.
2 provisions across 1 enactments
Shivaji Jaisingh Jadhav
The Karad Urban Co-operative Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
