The Court allowed the appellant's waiver application regarding predeposit for filing an appeal, noting that the auction sale proceeds exceeded the demanded amount. Noted absence of auction purchaser as a party.
Waiver application regarding predeposit for maintaining the appeal allowed.
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I.A. No. 351/2022 In Appeal Dy. No. 634/2022 Date: 20.09.2022
M/s Gulati Electronics Vs. Punjab National Bank
Present: Shri Amit Sonkar, Advocate holding brief of Shri Prashant Kumar, counsel for the appellant, Shri Sanjai Singh, counsel for the respondent-Bank,
Heard the learned counsels for the parties on the waiver application.
Learned counsel for the appellant submits that the demand notice was issued against the appellant for an amount of Rs. 6.26 lacs and the respondent-Bank has realized Rs. 18.10 lacs from the auction sale of the property in question, therefore, no further amount is required to be deposited towards predeposit for maintaining the appeal. Hence, it is requested that the waiver application may be allowed.
Learned counsel for the respondent-Bank states that he has no objection, if the waiver application of the appellant is allowed.
In view of the aforesaid, the waiver application is allowed.
Learned counsel for the respondent-Bank submits that although the auction purchaser was party before the Tribunal below, but in the present matter, the auction purchaser has not been made party.
Learned counsel for the appellant may file appropriate application, if so desired.
List this case on 30.10.2022, by which time the respondentBank may file reply.
Justice R. D. Khare Chairperson
VN Giri
M/s Gulati Electronics
Punjab National Bank
R. D. Khare
VN Giri
As recorded by the court registry
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