M/S Sumit Service Station And 2 Ors. v. Uco Bank And Anr.
Case brief
What is this about?
The Tribunal allowed the waiver application as the appellant had deposited over 50% of the decretal amount. It directed the pre-deposit to be kept in an FDR and granted interim relief to maintain status quo regarding the auction notice pending further deposits.
What did the court decide?
Waiver of pre-deposit allowed; direction to keep deposit in FDR; auction notice kept in abeyance; parties directed to maintain status quo pending further deposit of Rs. 10.00 lacs.
Appeal Dy. No. 242/2022 Date: 07.06.2022
M/s Sumit Service Station Vs. UCO Bank
Present: Shri Anil Kumar Singh, counsel for the appellant,
Heard the learned counsel for the appellant.
Learned counsel for the appellant has challenged the order passed by the Tribunal below under section 19 of the RDB Act, in which an amount of Rs. 76,15,628.48 along with interest has been decreed against the appellant.
Learned counsel for the appellant submits that the counsel of the appellant had expired, therefore, the said order was passed ex-parte and in the meantime, the proprietor of the appellant had also met with an accident and severe paralyses, therefore, the amount due could not be deposited regularly. However, the appellant had deposited Rs. 10.00 lacs with the Bank at the time of submitting one time settlement proposal, but without considering the same, the Tribunal below has passed the impugned order, which is under challenge.
Moreover, the learned counsel for the appellant deposits a demand draft no. 113424 dated 06.06.2022 for Rs. 3,02,000/- towards pre-deposit, which is taken on record and submits that a sum of Rs. 56.00 lacs has already been deposited with the Bank, therefore, the waiver application be allowed.
As per impugned order, the liability of the appellant is for Rs. 76,15,628.48 along with interest and the appellant has today deposited Rs. 3,02,000/- and Rs. 56.00 lacs has already been deposited with the Bank, as such the appellant has deposited more than 50% of the amount due, therefore,
Issues for consideration
3 issues framed by the court
Whether the waiver application for failure to deposit the required pre-deposit be allowed considering the amount already deposited with the Bank and Tribunal.
Whether the interim relief to maintain status qua and keep the auction notice in abeyance be granted.
Whether the appellant deserves further time to deposit the required amount before the auction of the property.
Parties & counsel
- appellant
M/s Sumit Service Station
- respondent
UCO Bank
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · June
- CNR
- 091090002422022
- Topic
- Banking and Recovery
All orders in this case
8 orders share this CNR
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