Sri Ashwini Mishra and Ors. v. Bank of Baroda and Ors.

Appeal Dy. No. 626/2022 Date: 30.09.2022

Sri Ashwini Mishra & Ors. Vs. Bank of Baroda & Ors.

Present: Shri Adarsh Bhushan, counsel for the appellants,

Heard the learned counsel for the appellant on the waiver application being I.A. No. 433/2022.

Learned counsel for the appellant submits that against the outstanding dues of Rs. 11,55,044/-, he has deposited Rs. 2,88,761/- towards pre-deposit, therefore, no further amount is required to be deposited towards pre-deposit. Hence, the waiver application may be allowed.

In view of the above, the waiver application stands disposed off.

The amount deposited by the appellant be kept in the form of FDR in Nationalized Bank for a period of six months in auto renewal scheme.

Also heard the learned counsel for the appellant on the interim application being I.A. No. 345/2022.

Learned counsel for the appellant submits that against the proceedings under section 14 of the SARFAESI Act, the appellant had taken legal advice and filed a writ petition no. 25510 of 2018 before the Hon’ble Allahabad High Court, Lucknow Bench, in which an interim protection was granted for six weeks and in the meantime, the appellant was directed to file appeal under section 18 of the SARFAESI Act before this Tribunal. It is further submitted that only one portion of the property in question was mortgaged, but whole property has been auctioned by the Bank. The entire debt due is lying