The tribunal conditionedally allowed the appeal by condoning delay under the Limitation Act and allowed an application for waiver of pre-deposit under the SARFAESI Act.
Delay under Section 5 of the Limitation Act is condoned; pre-deposit condition under Section 18 of the SARFAESI Act is waived; appeal is to be registered.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT KOLKATA (Appl. Dy. No. 399 of 2021 (I.A. NO. 304 OF 2021) (I.A. NO. 305 OF 2021)
(Arising out of S.A. No. 68 of 2020 in DRT –1 Hyderabad)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA, CHAIRPERSON.
Backyard Agro Farms & Poultry
…. Appellants Vs. Syndicate Bank …… Respondents Mr. N. Srinivas, learned counsel for the appellant.
Mr. Onkar Ganguly, ld. Counsel. for the respondent.
THE APPELLATE TRIBUNAL :
I.A. 305 of 2021 has been filed by the appellant u/s 5 of the Limitation Act seeking condonation of delay in filing the appeal. In this appeal impugned order was dated 05.04.2021 while appeal was filed on 13.07.2021. In the meantime appellant has approached Hon’ble High Court at Telengana on 27.04.2021 whereby the matter was relegated to this Appellate Tribunal. Learned counsel has placed reliance on the Hon’ble Apex Court judgement in Suo Motu Writ Petition No. 03 of 2020 dated 10.01.2022 wherein exemption of period of 90 days from 01.03.2022 was granted.
Having considered the submission of the learned counsel for the appellant and perusing records I find that ground taken by the appellant is sufficient for condonation of delay. Accordingly, application filed u/s 5 of the Limitation Act is allowed. Delay is condoned.
I.A. 304 of 2021 has been filed by the appellant u/s 18 of the SARFAESI Act seeking waiver from pre-deposit.
Learned counsel for the appellant submits that amount due as per demand notice is Rs.21,35,880/-. Appellant deposited Rs.23.15 lakhs whereas Rs.35.20 lakhs appropriated out of sale proceeds in pursuance of sale notice dated 14.02.2020. Learned counsel further submits in such circumstances pre-condition of pre-deposit provided u/s 18(1) has been complied with. Having considered the submission of the learned counsel for the appellant and perusing records I.A. No. 304 of 2021 is allowed. Appeal be registered by providing regular number.
Opposition filed by respondent no.1 and 2 is taken on record. Rejoinder, if any, be filed within three weeks.
List the matter on 09.01.2023 for hearing appeal.
(Anil Kumar Srivastava,J) Chairperson.
Dated : 28th September, 2022 02/PKB
2 issues framed by the court
Whether delay in filing the appeal should be condoned under Section 5 of the Limitation Act.
Whether the appellant is eligible for waiver of pre-deposit requirement under Section 18 of the SARFAESI Act given the amount deposited.
Colour shows how this judgement treated each authority
Suo Motu Writ Petition No. 03 of 2020 dated 10.01.2022Referred¶8
2 provisions across 2 enactments
Backyard Agro Farms & Poultry
Syndicate Bank
Anil Kumar Srivastava
As recorded by the court registry
6 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
