Asian Petro Chemical and Anr. v. Bank of Baroda and 10 Ors.

Appeal Dy. No. 737/2023 Date: 17.07.2023

Asian Petro Chemical Vs. Bank of Baroda

Present: Shri S. K. Gupta, counsel for the appellant,

Heard the learned counsel for the appellant.

It is contended on behalf of the appellant that against the demand of Rs. 41.00 lacs and odd, Rs. 10.00 lacs has already been deposited before the Tribunal below and today Rs. 1.00 lac through demand draft no. 444744 dated 10.07.2023 is being deposited towards pre-deposit. As such total amount of Rs. 11.00 lacs has been deposited, which is more than 25% of the amount due. Therefore, the waiver application may be considered.

Let the said amount be kept in the form of FDR in the nationalized Bank for a period of one year in auto renewal scheme.

Learned counsel for the appellant has drawn attention of this Tribunal to the earlier order dated 21.06.2023, whereby it was observed that the subsequent purchasers-respondent nos. 3 to 6 were trying to create further interest of other persons by selling of the property, but there was nothing on record to show that any steps were taken by any of the said respondents. However, it was made open to the appellant that in case any such steps are taken by the subsequent purchasers, the appellant may move an application before this Tribunal for obtaining appropriate order. Hence, today an impleadment application has been moved on the ground that the subsequent purchasers have sold the property in question to other persons through sale deed dated 06.07.2023, copy of which is annexed as annexure no. 2 to the impleadment

application and a prayer has been made to implead the subsequent purchasers as respondents in the present appeal and status quo order pertaining to the property in question may be passed to avoid future complication in the matter.