Appellants sought waiver of predeposit for second appeal in Debt Recovery matter. Tribunal allowed predeposit timeline of two weeks and listed case for waiver consideration on 12.12.2022.
Appellants ordered to make predeposit within two weeks; matter listed on 12.12.2022 for waiver application.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Appeal No. 150/2022 Arising out of S.A. No. 43/2022 (DRT-II, Chandigarh)
Arun 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.16,37,274.16. 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.12 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.
(CHAIRPERSON)
-pk
1 issue framed by the court
Whether the appellants are required to make predeposit of 25% of the balance amount to avail waiver under Section 18 of the SARFAESI Act.
2 provisions across 1 enactments
Arun Kumar & Anr.
Bank of Baroda
Brijesh Sethi
As recorded by the court registry
14 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
