M/ S Shreya Masala Udyog v. Bank of Baroda and Anr.
Case brief
What is this about?
The appeal tribunal noted pending inter-applications including urgency, stay, waiver, and delay condonation. As the matter was taken up solely to decide the urgency application, it held that the rest became infructuous. Only the urgency application was disposed of; the delay application received notice.
What did the court decide?
The urgency application I.A. No. 569/2022 was disposed of as infructuous. Notices were issued for the delay condonation application.
Appeal Dy. No. 948/2022 Date: 01.12.2022
M/s Shreya Masala Udyog Vs. Bank of Baroda & Anr.
Present: Shri Kushal Kant, counsel for the appellants,
The present appeal has been filed under section 18 of the SARFAESI Act against the final order dated 29.03.2022 passed by the DRT, Lucknow in S.A. No. 130/2014.
The report of the Registrar dated 21.11.2022 shows that the I.A. No. 569/2022 being urgency application, I.A. No. 570/2022 being stay application and I.A. No. 571/2022 being waiver application and I.A. No. 572/2022 being delay condonation application are pending consideration.
The said report further notes that no pre-deposit has been made and as per the e-auction notice dated 08.09.2013, the dues of the Bank was shown to be Rs. 5,50,680/- along with interest. It is contended by the learned counsel for the appellant that the amount due along with interest would be total Rs. 6,22,560/-and the property has been sold by the Bank for Rs. 9.15 lacs, thus, more than 100% of the amount due has been recovered by the Bank. Therefore, no further amount is required to be deposited towards pre-deposit. Accordingly, the waiver application is allowed.
As the matter has been taken-up today on the basis of the urgency application being I.A. No. 569/2022, therefore, the same has become infructuous and is disposed off as such.
Issue notices on delay condonation application to the respondents by two modes i.e. Registered Post with A.D. and Speed Post. Steps to be taken by the appellant within a week. Affidavit of service along with tracking report be filed by the next date.
Issues for consideration
2 issues framed by the court
Whether the urgency application I.A. No. 569/2022 is maintainable on merits when pending applications require notices?
Whether the pre-deposit requirement can be waived by the appeal tribunal before issuing notices in delay/condonation applications?
Parties & counsel
- appellant
M/s Shreya Masala Udyog
- respondent
Bank of Baroda
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
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