Loutoo Ram v. Union Bank of India and Anr.
Case brief
What is this about?
This order disposes of multiple interim applications seeking stay and waiver of pre-deposit under the SARFAESI Act. The Tribunal dismissed urgency applications as misconceived, issued notices to respondents, and disposed of the stay application with liberty to challenge proceedings below.
What did the court decide?
Stay application disposed with liberty to challenge proceedings below; notices issued to respondents via Registered Post and Speed Post; urgency applications rejected.
I.A. No. 216/2022, I.A. No. 215/2022, I.A. No. 171/2022, I.A. No. 170/2022 & I.A. No. 169/2022 In Appeal Dy. No. 361/2022
Date: 21.07.2022
Loutoo Ram Vs. Union Bank of India and Anr.
Present: Shri Sudhanshu Mishra, counsel for the appellant, Shri Sandeep Arora, counsel for the respondent-Bank,
The record shows that the I.A. No. 169/2022 has been filed for urgent hearing and I.A. No. 170/2022 has been filed by the learned counsel for the appellant for grand of stay and I.A. No. 171/2022 has been filed for waiver, as no pre-deposit has been made by the appellant, although, the present appeal has been filed under section 18 of the SARFAESI Act against the final order dated 25.05.2022 passed by the DRT, Lucknow in S.A. No. 393/2019.
The record further shows that the I.A. No. 215/2022 and I.A. No. 216/2022 have been again filed for urgency and stay as the urgency and stay applications have already been filed earlier as stated above, therefore, the present applications are misconceived and the same are rejected.
Let the notices be issued to the remaining respondents on the waiver application by two modes i.e. Registered Post with A.D. and Speed Post. Steps to be taken by the appellant within a week. Affidavit of service along with tracking report be filed by the next date. The appellant may also explain as to how the present proceedings are maintainable in absence of pre-deposit amount.
Learned counsel for the appellant submits that the order impugned has been passed in arbitrary manner against the provisions established under the law and the evacuation
Issues for consideration
3 issues framed by the court
Whether to grant stay on the impugned order passed by the DRT without pre-deposit.
Whether to waive the requirement of pre-deposit in the present proceedings.
Whether notices should be issued to remaining respondents.
Parties & counsel
- appellant
Loutoo Ram
- respondent
Union Bank of India
Coram
R. D. Khare
Case details
As recorded by the court registry
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6 orders share this CNR
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