M/S Aarkay Tex v. Uco Bank

Appeal Dy. No. 180/2023 Date: 03.03.2023

M/s Aarkay Tex Vs. UCO Bank

Present: Shri Udai Chandani, counsel for the appellant, Shri Pawan Kumar Mishra along with Shri Jagjeet Singh, counsel for the respondent-Bank, Shri Ved Prakash Singh, counsel for the respondent-Auction Purchaser,

Learned counsel for the appellant submits that the Nayab Tehsildar (City), Varanasi has issued a notice dated 23.02.2023 directing the appellant to handover the possession of the property in question to the respondent-Bank otherwise, the possession of the same will be taken as per law. Learned counsel further submits that the appellant no. 2 is an old lady and the property in question is a residential accommodation, wherein the appellant along with her two daughter-in-laws is living, therefore, the interest of the appellant may be protected.

Learned counsel for the respondent-Bank submits that the appeal filed by the appellants is not entertainable, as the appellants have not deposited any amount towards predeposit, therefore, no interim relief can be granted at this stage.

Learned counsel for the appellant again submits that the appellants are ready to deposit 25% of the amount due by 06.03.2023 and are also ready to bear the expenses incurred by the Bank for taking physical possession of the property in question today.

In view of the above, the appellants are directed to deposit 25% of the amount due by 06.03.2023. The said amount shall be deposited by the appellant in the form of demand draft in favour of the Registrar, DRAT, Allahabad.

In view of the above, all the parties concerned are directed to maintain the status quo qua the property in question, as it exists today, till the next date of listing. In case, the said amount is not deposited by the appellant till 06.03.2023, the interim protection granted today shall stand automatically vacated and the Bank shall be at liberty to take physical possession of the property in question in accordance with law.