M/ S Uninor Infrabuild Pvt. Ltd. v. Union Bank of India

Dy. No. 1150/2022

(M/s Uninor Infrabuild Pvt. Ltd. Vs. Union Bank of India)

Date: 21.12.2022

Shri Abhishek Kapadiya, Ld. Counsel for the appellant is present.

No pre-deposit has been made by the appellant. A waiver Application being I.A No. 711/2022 has been filed stating that the respondents Bank has auctioned one of the secured asset for approx Rs. 10,53,00,000 on 29.04.2022- against the outstanding amount of Rs. 40,43,46,950.01 and further stated that it is approx 25% of the debt mentioned in the demand notice. The demand notice dated 16.01.2019 is annexed with the appeal at page No. 36 & 37 shows the outstanding amount of Rs. 40,43,46,950.01.

The appellants has also filed a Stay Application being I.A. No. 712/2022 for direction to the respondent-Bank for not taking any coercive measures against the immovable property.

The appellants has also filed an Urgency Application being I.A. No. 710/2022 on the grounds that respondents Bank is rushing to take the physical possession of the secured asset.

The instant appeal has been filed under section 18 of the SARFAESI Act against the final order dated 16.11.2022 passed by DRT, Lucknow in S. A. No. 737/2022.

In view of the Urgency made out by the appellant let the case be placed before Hon’ble Chairperson on 10.01.2023 for admission.