Govind Prasad Yadav and Ors. v. Cent Bank Home Finanace Ltd. and Anr.
Case brief
What is this about?
The Adjudicating Officer held that the Tribunal lacks power to reduce appellate pre-deposit below 25% under the second and third provisos of the relevant section. The appellant was directed to deposit 25% of the debt due or the appeal would be treated as not maintainable.
What did the court decide?
Appellant directed to deposit minimum 25% of the amount due; case to be dismissed if not deposited, or listed for hearing on waiver of the remaining 25%.
What the court decided
A compact analysis
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Appeal Dy. No. 82/2022 Date: 11.05.2023
Govind Prasad Yadav & Ors. Vs. Cent Bank Home Finance Ltd. & Anr.
Present: Shri Raj Kumar Tiwari, counsel for the appellants,
The office report dated 10.05.2023 shows that no pre-deposit has been made.
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 22.08.2023 for hearing on waiver of the rest 25% of the amount due.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
2 issues framed by the court
Whether the Tribunal has power to reduce mandatory pre-deposit below 25% in an appeal under the relevant Act?
Whether the appeal is maintainable without pre-deposit of the minimum 25% amount?
Parties & counsel
- appellant
Govind Prasad Yadav & Ors.
- respondent
Cent Bank Home Finance Ltd.
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
5 orders share this CNR
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