Leaving IA 146 of 2022, the tribunal allowed a request to waive a pre-deposit for the SARFAESI Act appeal on the ground that the bank had already received sale proceeds exceeding the contested demand, relying on prior case law.
Waiver from pre-deposit on the ground that the bank received more than the amount due under the demand notice.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Appl. Dy No. 227 of 2022)
(IA 146 OF 2022)
(Arising out of S.A. 119 of 2020 in DRT-Visakhapatnam)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
07.09.2022
Sri Jampani Krishna Babu
… Appellants
-Vs-
Canara Bank
… Respondents
Mr. N. Srinivas, learned counsel for the Appellant. Ms. Aparajita Rao None for the respondent.
THE APPELLATE TRIBUNAL :
I.A. 146 of 2022 has been filed by the appellant u/s 18(1) of the SARFAESI Act seeking waiver from pre-deposit on the ground that demand made by the secured creditor bank in the demand notice dated 16.08.2019 is Rs.1,38,82,240.75 whereas Rs.2,31,77,000/- was received by the bank from the auction purchaser out of the sale proceeds. Learned counsel for the appellant submits that since secured creditor bank has already received more than the amount due, in view of the ratio of the judgement delivered by this Appellant Tribunal in Appeal No. 366 of 2021 in the case of Hotel Annapurna Plaza Vs. Bank of Baroda decided on 30.08.2022 the waiver application may be allowed.
Having heard the learned counsel for the parties and perusing records and in view of the ratio of the judgement delivered by this Appellate Tribunal on 30.08.2022 the waiver application is allowed. Appellant is permitted to file the appeal dispensing with pre-deposit as provided u/s 18(1) of the SARFAESI Act. The I.A. No. 146 of 2022 is thus disposed of.
Respondent may file objection within four weeks with advance copy to the appellant who may file rejoinder within two weeks thereafter.
List the matter on 05.01.2023 for hearing the appeal.
(Anil Kumar Srivastava,J) Chairperson
Dated: 7th September, 2022 06/pkb
1 issue framed by the court
Whether the appellant is permitted to dispense with the pre-deposit requirement for filing the appeal under the SARFAESI Act when the secured creditor has received amounts exceeding the demand.
Colour shows how this judgement treated each authority
Hotel Annapurna Plaza Vs. Bank of BarodaFollowed¶14
Appeal No. 366 of 2021 in the case of Hotel Annapurna Plaza Vs. Bank of Baroda decided on 30.08.2022
1 provisions across 1 enactments
Jampani Krishna Babu
Canara Bank
Anil Kumar Srivastava
As recorded by the court registry
9 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
