The Single Judge admitted an application to condone delay in filing an appeal. Waiver under Section 18 of SARFAESI Act was allowed based on financial hardship. Appeal was made regular for hearing on 02.01.2023.
Delay was condoned. Waiver under Section 18 of SARFAESI Act was allowed. Appeal registered as regular.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Dy. No. 427 of 2019) (Arising out of S.A No. 385 of 2018 on DRT-3. Kolkata)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
21.09.2022 Sunirmal Saha & Anr … Appellant -VsUCO Bank and anr … Respondents Ms. Setu Das, Learned Counsel for the Appellant. Mr. S. Pal Chowdhury, Ms. Saswati Sikder, Learned Counsel for the Respondent.
THE APPELLATE TRIBUNAL :
I.A. Application under Section 5 of the Limitation Act for condonation of delay in filing the Appeal. The impugned order was passed on 04.11.2019. Instant Appeal was filed on 16th December, 2022. There is a delay of 11 days. It is submitted that the delay was not intentional. Learned Counsel for the Respondent opposed the prayer.
I find that the ground is sufficient for condonation of delay. I.A. is allowed. Delay is condoned.
I.A. No.520 of 2019 application for waiver under Section 18 of SARFAESI Act. It is submitted that the amount claimed by the Bank is Rs.6,65,186.40 and the
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Appellant along with the scheduled property also hypothecated Life Insurance Policy No. 423702189 for a sum of Rs. 2,80,000/- as Collateral Security. An amount of Rs.2.5 lacs was deposited by the Appellant and Respondent also got encashed the amount towards towards an amount of Rs. 4,48,184,000/-.
Having considered the submissions made by the Learned Counsel for the Appellant and considering the pecuniary condition of the Appellant, I find the prayer of the Appellant is justifiable. Accordingly, I.A. is allowed. Appeal be registered as regular Appeal. Respondent may file opposition within four weeks with copy to the Appellant who may file the rejoinder within two weeks thereafter.
List on 2nd January, 2023 for hearing of Appeal. Respondent is directed to file the Statement of Account along with opposition.
(Anil Kumar Srivastava,J) Chairperson
Dated: 21st September, 2022 04/tp
2 issues framed by the court
Whether the delay in filing the appeal is condonable.
Whether the waiver under Section 18 of SARFAESI Act is granted due to the appellant's financial condition.
Sunirmal Saha & Anr
UCO Bank and anr
Anil Kumar Srivastava
As recorded by the court registry
14 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
