This order grants a waiver of pre-deposit in an application under Section 18 of the SARFAESI Act. The court directed the appellant to deposit the 25% required amount and produce proof on the next date.
Waiver of pre-deposit under Section 18 of SARFAESI Act granted; direction to deposit 25% within four weeks.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Appeal No. 232 of 2018)
(Arising out of S.A. 284 of 2017 in DRT, Visakhapatnam)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
13.6.2022 Smt. Kolla Kasturi … Appellant -VsKarur Vysya Bank … Respondent
Mr. M. Narasimha Rao, Learned Counsel for Appellant
Ms. Sweta Ganghi, Learned Counsel for Respondent Bank
THE APPELLATE TRIBUNAL :
Application No. 390 of 2018
This is an application praying for waiver of pre-deposit under Section 18 (1) of the SARFAESI Act 2002.
It is submitted that Appellant is ready to deposit 25% of the amount, as per Demand Notice, within a period of four weeks from date.
Applicant is directed to deposit the requisite amount and produce proof of deposit on the next date.
Accordingly, Application No. 390 of 2018 stands disposed of.
List the matter on 14th July, 2022.
Vakalatnama be filed by Learned Counsel for Respondent in the meantime.
(Anil Kumar Srivastava,J) Chairperson
Dated: 13th June, 2022 03/ac
1 issue framed by the court
Whether a waiver of pre-deposit under Section 18(1) of the SARFAESI Act 2002 is applicable when the appellant is ready to deposit 25% of the amount.
1 provisions across 1 enactments
Smt. Kolla Kasturi
Karur Vysya 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
