Suresh Kumar Morya versus Jumbo Finvest India Limited

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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

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Appeal No. 183/2022 Arising out of S.A. No. 20/2022 (DRT, Jaipur)

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Suresh Kumar Morya Vs Jumbo Finvest (India) Ltd.

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02.11.2022 Hon’ble Mr. Justice Brijesh Sethi

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Present: Dr. Ram Avtar Sharma, Ld. Counsel for appellant.

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This matter has been taken up by me through Video Conferencing.

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Appeal No. 183/2022

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This is an appeal preferred against the impugned order dated 23.08.2022 passed by Ld. DRT-Jaipur whereby appellant was directed to deposit the settlement amount of Rs.25.00 lacs within 30 days.

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The Ld. Counsel for appellant states that as per demand notice issued under Section 13(2) of SARFAESI Act the outstanding amount was Rs.21.38 lacs and appellant has already deposited a sum of Rs.10.00 lacs after issuance of Section 13(2) demand notice.

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Ld. Counsel for appellant further submits that appellant is not in a position to make any pre-deposit, be that of 50% or 25%, before this Tribunal for the entertainment of the appeal.

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Heard. There is bar to entertain the appeal in view of second proviso to Section 18(1) of the SARFAESI Act. Thus, unless and until the appellant complies with the condition of pre-deposit, this Tribunal cannot entertain the appeal. What to speak of this Tribunal, the Hon’ble Apex Court in the matter “Kotak Mahindra Bank Pvt. Ltd. vs. Ambuj A kasliwal & Ors. (Civil Appeal No. 538/2021, decided on 16.02.2021) has observed that even the Hon’ble High Court does not have the power to waive the pre-deposit in its entirety, nor can it exercise discretion, which is against the mandatory requirement of the statutory provisions. In view of this, the present appeal cannot be entertained by this Tribunal. Accordingly, the same is dismissed as not entertainable for want of compliance of the condition of pre-deposit.

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File be consigned to record.

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(CHAIRPERSON)

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N

Suresh Kumar Morya v. Jumbo Finvest India Limited

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Suresh Kumar Morya v. Jumbo Finvest India Limited

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