Devendra Kumar Rai v. State Bank of India and Anr.

Appeal Dy. No. 389/2022 Date: 27.02.2023

Devendra Kumar Rai Vs. State Bank of India & Anr.

Present: Shri S. S. Nigam, Senior Advocate assisted by Shri V. K. Shukla, counsel for the appellant, Shri P. K. Srivastava, counsel for the respondent-Bank, Shri Rajesh Kumar Srivastava, counsel for the respondentAuction Purchaser,

Heard the learned counsel for the appellant on the waiver application being I.A. No. 189/2022, wherein it has been contended that after issuance of notice under section 13(2) of the SARFAESI Act, the appellant has deposited more than 50% of the amount due as has been detailed in para 2 of the waiver application. It is further contended that in interregnum, the respondent-Bank has also sold the property of the appellant for Rs. 33,62,000/-. It is also contended that the respondent-Bank has not disputed the said facts. Hence, it is prayed that the waiver application may be allowed and the appellant may be exempted from depositing any amount towards pre-deposit for maintaining the appeal.

In view of the aforesaid, the waiver application filed by the appellant is allowed and no further amount is required to be deposited for maintaining the appeal.

Learned counsel for the appellant files impleadment application, rejoinder and supplementary affidavit, which are taken on record.

Learned counsel for the respondent-bank submits that the issue raised by the appellant in the present appeal may be considered by the Tribunal below, therefore, the present appeal may be disposed off finally, as the S.A. filed by the

appellant is still pending consideration before the Tribunal below.