Allowed

M/ S Mirzapur Iron and Hardware Stores and 7 Ors. v. State Bank of India and 5 Ors.

DRAT3 Jun 2022REGULAR APPEAL/2/2013

Case brief

AI extract

What is this about?

The Single Judge allowed the application, holding that no pre-deposit is required as the High Court had ruled the debt was satisfied. The appeal is restored to its original number subject to defect removal and service of notices.

What did the court decide?

No pre-deposit required; appeal restored to original number subject to defect removal and service of notices.

M/ S Mirzapur Iron and Hardware Stores and 7 Ors… — Contract and Commercial Disputes | DRAT (2022)

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M.A. No. 01/2022 In M.A. No. 181/2013 Date: 03.06.2022

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M/s Mirzapur Iron and Hardware Stores Vs. State Bank of India

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Present: Shri S. K. Gupta, counsel for the applicant,

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Heard the learned counsel for the applicant.

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Learned counsel for the applicant has drawn attention of this Tribunal towards the order dated 02.01.2019 passed by the Hon’ble High Court in Writ Petition No. C-31195 of 2013- M/s Mirzapur Iron and Hardware Stores and 7 Ors. Vs. Authorized Officer/Chief Manager, SBI, Mirzapur and 5 others, wherein it was held that the total outstanding debt with accrued interest against the petitioners/borrower has been satisfied with the sale of the secured assets and deposit of the remaining balance by the auction purchaser namely Smt. Divya Gupta and the possession of the secured asset had also been handed over to the auction purchaser. Thus, there is no outstanding debt against the applicant/petitioner and the secured asset is not in their possession, the interest of the Bank had been fully protected. It was further held that the requirement of predeposit of 25% in the present case is not required. The said order has been appended along with M.A. No. 01/2022.

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In view of the above, no amount towards pre-deposit is required in the present case.

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In view of the order passed by the Hon’ble High Court, the present application is allowed. Consequently, the appeal-inchamber filed by the applicant is also allowed by recalling the order dated 21.01.2013 passed by the Registrar. As such the main appeal is restored to its original number subject to removal of remaining defects within three weeks. In case the

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defects are removed within the stipulated period, let the appellant take steps for service of notices upon the respondents within a week thereafter by two modes i.e. registered post with A.D. and Speed Post. If steps are taken then affidavit of service along with tracking report be filed by the next date.

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List this case on 20.09.2022 for service.

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Justice R. D. Khare Chairperson

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VN Giri

M/ S Mirzapur Iron and Hardware Stores and 7 Ors. v. State Bank of India and 5 Ors.

Case brief

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M/ S Mirzapur Iron and Hardware Stores and 7 Ors. v. State Bank of India and 5 Ors.

Case brief

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