M/ S Sunrise Institute and 8 Ors. v. Punjab National Bank

Appeal Dy. No. 802/2022 Date: 04.11.2022

M/s Sunrise Institute Vs. Punjab National Bank

Present: Shri Sahil Srivastava, Advocate holding brief of Shri Shakti Ojha, counsel for the appellant, Shri S. K. Pandey, counsel for the respondent-Bank,

Heard the learned counsel for the appellant.

The present appeal has been filed under section 20 of the RDB Act against the final order dated 01.09.2022 passed by the DRT, Lucknow in O.A. No. 338/2013.

The report of the Registrar dated 01.11.2022 shows that the urgency application being I.A. No. 466/2022, the waiver application being I.A. No. 468/2022, delay condonation application being I.A. No. 469/2022 and Interim relief application being I.A. No. 467/2022 are pending consideration.

The said report further reveals that the dues against the appellant was Rs. 6,07,77,179/- plus interest and the appellant had deposited a sum of Rs. 97.00 lacs in the loan account, which is about 25% of the debt due. No pre-deposit has been made.

Since the matter has been taken up, therefore, the urgency application being I.A. No. 466/2022 has become infructuous. Hence the same stands disposed off as such.

Learned counsel for the appellant submits that he will serve the copy of memo during the course of day upon the learned counsel for the respondent-Bank, who may file reply to the waiver, delay and stay applications by the next date.