Ashok Sharma v. the a D M (F & R) Ghaziabad and Anr.

Appeal Dy. No. 960/2022 Date: 13.03.2023

Ashok Sharma Vs. The ADM (F & R) Ghaziabad & Anr.

Present: Shri A. K. Pal, counsel for the appellant, Shri Abhinav Gaur, counsel for the respondent no. 2,

The present appeal has been filed under section 18 of the SARFAESI Act against the order dated 05.08.2022 passed by the DRT, Lucknow in S.A. No. 425 of 2022. In the present case, the appellant has not deposited any amount towards pre-deposit, whereas the second proviso of said section says that no appeal shall be entertained unless the borrower has deposited with the Appellate Tribunal 50% of the amount of debt due from him, as claimed by the secured creditor or determined by the Debt Recovery Tribunal, whichever is less. Further, the third proviso of the said section says that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the amount not less than 25% of the debt referred to in the second proviso. As such, this Tribunal has no power to reduce the amount below to 25% of the amount due. Therefore, the appellant is directed to deposit minimum 25% of the amount due, which is mandatory in nature, 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 mandatory pre-deposit without further reference to this court. If the said amount is deposited by the appellant within the stipulated period, list this case on 10.05.2023 for hearing on waiver of the rest 25% of the amount due.

Justice R. D. Khare Chairperson

Anupam