Naveen Kumar v. Bank of Baroda
Case brief
What is this about?
The Debt Recovery Appellate Tribunal allowed the appellants two weeks to make a predeposit of 25% of the balance demand to satisfy Section 18 requirements for appeal consideration, listing the matter for waiver consideration on 12.12.2022.
What did the court decide?
Direction to make 25% predeposit within two weeks; listed for waiver consideration.
What the court decided
A compact analysis
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Appeal No. 149/2022 Arising out of S.A. No. 42/2022 (DRT-II, Chandigarh)
Naveen Kumar & Anr. Vs Bank of Baroda
23.11.2022 Hon’ble Mr. Justice Brijesh Sethi
Present: Mr. Rajat Malhotra, Ld. counsel for appellants
This matter has been taken up by me through Video Conferencing.
Learned counsel or appellants states that he will make good the deficit court fees by tomorrow.
As per the notice under Section 13(2) of the SARFAESI Act issued by the respondent bank, the bank has demanded a sum of Rs.15,23,443.60. For the entertainment of the appeal, the appellants have to cross the hurdle of predeposit as per Section 18 of the SARFAESI Act. Learned counsel for the appellants states that appellants have made a deposit of Rs.8.50 lacs with the respondent bank after the passing of the impugned order. He further submits that he will make a pre-deposit of 25% of the balance amount, after deducting the amount paid to the bank after the issuance of Section 13(2) notice, within two weeks from today so that this Tribunal can consider the prayer of the appellants for waiver of balance 25% pre-deposit. Let the appellants make predeposit as undertaken within two weeks.
List the matter on 12.12.2022 for consideration of the application of the appellants for waiver of balance 25% pre-deposit.
Issues for consideration
1 issue framed by the court
Whether the appellants are eligible for consideration of waiver of balance 25% predeposit by the Debt Recovery Appellate Tribunal.
Parties & counsel
- appellant
Naveen Kumar
- respondent
Bank of Baroda
Coram
Brijesh Sethi
Case details
As recorded by the court registry
All orders in this case
14 orders share this CNR
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