Allowed

Sushma Khanna v. Punjab National Bank

DRAT20 May 2022MISC APPEAL/70/2022

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal, Delhi, entertained an appeal after accepting a 25% pre-deposit. It relied on the partial recovery of assets and the appellant's senior-citizen status to waive the balance pre-deposit and restrain the Receiver from taking possession of the property pending appeal.

What did the court decide?

The appeal was entertained without further pre-deposit; the Receiver was restrained from taking possession of the property until further orders.

Sushma Khanna versus Punjab National Bank — Banking and Recovery | DRAT (2022)

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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

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Misc. Appeal No. 70/2022 Arising out of T.S.A. No. 31/2021 (DRT-III, Delhi)

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Mrs. Sushma Khanna Vs Punjab National Bank Ltd. & Ors.

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20.05.2022 Hon’ble Mr. Justice Brijesh Sethi

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Present: Dr. Sarbjit Singh, Ld. Counsel for appellant

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Mr. Mahesh Chaudhary, Ld. Counsel for respondent bank

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This matter has been taken up today through Video Conferencing upon being mentioned by the learned counsel for the appellant in view of urgency that appellant’s property is going to be taken over by the Receiver tomorrow.

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The appellant has challenged the impugned order dated 19.05.2022 whereby the S.A. in question has simply been adjourned on the ground that the Tribunal has not received the record on its transfer from the DRT, Jaipur. The learned counsel for the appellant submits that the learned CMM has appointed a Receiver for taking over the property bearing House No.1650 (First Floor), Sewa Kutir, Outram Lines, Kingsway Camp, Delhi and he, in turn, has given notice to the appellant for taking over the property tomorrow, i.e. 21.05.2022. Learned cousnel, therefore, prays for interim protection by restraining the Receiver from taking over the property in question.

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The learned counsel for the respondent bank vehemently opposes this request and states that the appellant has to first cross the hurdle of pre-deposit for entertaining her appeal and thereafter only the request of the appellant for interim protection can be heard.

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Dr. Sarbjit Singh, learned counsel for the appellant, at this stage states that the appellant is prepared to make 25% pre-deposit, which is about Rs.30 lacs, by way of a demand draft today itself. He further states that earlier one of the properties belonging to the appellant has already been sold by the bank and recovered a sum of Rs.1,16,62,000/-. He states that the physical possession of another property at Sohna Road, Gurugram (Haryana) is also with the bank. He, therefore, prays his request for waiver of the balance 25% pre-deposit amount may be considered sympathetically upon the deposit of Rs.30 lacs.

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-: 2 :-

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The appellant has today deposited Rs.30 lacs with this Tribunal towards 25% of pre-deposit vide Manager’s Cheque No.001415 dated 20.05.2022 drawn on HDFC Bank. Let Registry keep this amount in a fixed deposit with a nationalised bank.

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According to the appellant herself, an amount of Rs.1.20 crores is due from her to the bank. The 25% of this amount comes to Rs.30 lacs. Taking into consideration the fact that the appellant has today made a pre-deposit of 25% and her one of the properties (second floor of the same very property) already stands sold for an amount of Rs.1,16,62,000/- and also physical possession of another property at Sohna Road, Gurugram (Haryana) is with the respondent, this Tribunal is of the opinion that the balance 25% pre-deposit amount required to be made for the entertainment of her appeal can be waived and the appeal can be entertained. Accordingly, it is ordered that the appellant need not make any further pre-deposit for the entertainment of the appeal and the appeal is consequently entertained.

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The learned counsel for the appellant prays for interim protection of restraining the Receiver on the ground that the appellant is a lady of 61years and she and her husband, who are senior citizens, are living in the first floor of the property of which the possession is going to be taken over tomorrow by the Receiver.

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Since the appellant has made a pre-deposit of Rs.30 lacs and her one of the properties has already been sold for a sum of Rs.1,16,62,000/-, in the interest of justice, the Receiver is restrained from taking the property in question till further orders.

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List the matter on 24.08.2022. Let reply to the appeal be filed within six weeks with advance copy to the counsel opposite. Rejoinder, if any, be filed within four weeks thereafter.

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(CHAIRPERSON)

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-pk

Sushma Khanna v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

Sushma Khanna v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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