Anju Gupta v. Punjab National Bank and Anr.
Case brief
What is this about?
Appeal against an interim order under SARFAESI Act. Court held that auction proceeds cannot count towards mandatory 25% pre-deposit. Appeal listed for further hearing if deposit is made.
What did the court decide?
Directed to deposit 25% of amount due by next date; failure would lead to dismissal. Case listed for 19.05.2023 for hearing on waiver of rest.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Appeal Dy. No. 359/2022 Date: 14.03.2023
Anju Gupta Vs. Punjab National Bank & Anr.
Present: Shri Sudhanshu Mishra, counsel for the appellant, Shri S. K. Srivastava, counsel for the respondent-bank,
The office report dated 13.03.2023 shows that no reply has been filed by the respondent-bank and no pre-deposit has been made. Perusal of the earlier order dated 29.11.2022 records that the appellant had to explain regarding maintainability of the appeal in absence of non deposit of predeposit by the next date fixed. However, no such explanation has been made.
In the present case, the appellant has not deposited any amount towards minimum deposit of 25% of the amount due, which is mandatory in nature in view of the third proviso of section 18 of the SARFAESI Act, as the amount realized by the Bank from auction sale of the property of the appellant cannot be taken into consideration towards pre-deposit in view of the judgment passed by the Hon’ble Apex Court in
Civil Appeal No. 8969 of 2022- M/s Sidha Neelkanth Paper Industries Private Limited & Another Vs. Prudent ARC Limited & Others decided on 05.01.2023 .
In the waiver application, the learned counsel for the appellant has stated that the property has been auctioned by the respondent-bank, but the same cannot be considered towards pre-deposit in view of the judgment as referred to above. Therefore, the appellant is directed to deposit 25% of the amount due, which is mandatory in nature, by the next date fixed for entertaining the appeal. If the appellant does not deposit the said amount prior to the next date fixed, the appeal shall stand dismissed as not entertainable for want of
Issues for consideration
1 issue framed by the court
Whether the appellant can file the appeal without depositing 25% pre-depite since amount realized from auction cannot be considered as per pre-deposit.
Parties & counsel
- appellant
Anju Gupta
- respondent
Punjab National Bank
Coram
Justice R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · March
- CNR
- 091090003592022
- Bench
- Rajesh Dayal Khare
All orders in this case
10 orders share this CNR
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