Bank of India v. M S Manish Trading Company

Appeal Dy. No. 153/2023 Date: 14.02.2023

Bank of India Vs. M/s Manish Trading Company

Present: Shri P. K. Bajpai, counsel for the appellants,

Heard the learned counsel for the appellant.

The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 11.01.2023 passed by the DRT, Jabalpur in S.A. No. 882/2022. Vide impugned order, the sale has been affected subject to condition of deposit of Rs. 60.00 lacs, out of which Rs. 30.00 lacs by 11.02.2023 and the remaining Rs. 30.00 lacs by 11.03.2023.

Learned counsel for the appellant contends that an application for recalling of the said order is being pressed by the borrower, but the first part of the order impugned has been complied with by the borrower. It is further contended on behalf of the appellant that a meager amount has been directed to be deposited by the borrower vide order impugned, although the total outstanding amount against the borrower is approximately Rs. 2.50 crores, therefore, the order impugned is not sustainable.

Be that as it may, if the appellant has any grievance against the order impugned, he may move an appropriate application raising all the grievances before the Tribunal below and there is no doubt that the Tribunal below shall consider and pass the order most expeditiously.

In view of the above, the present appeal is finally disposed off.