Kakan Rice Mills Private Limited v. Bank of Baroda and Ors.

Appeal Dy. No. 723/2022 Date: 01.02.2023

Kakan Rice Mills Pvt. Ltd. Vs. Bank of Baroda

Present: Shri Alok Rai, counsel for the appellants, Shri G. K. Srivastava, counsel for the respondent-bank,

Learned counsel for the appellant contends that total demand as per demand notice was Rs. 10,62,83,307.92 and the appellant has deposited Rs. 3,28,70,730.58 on different dates, which is approximately 30% of the total demanded amount, therefore, the waiver application filed by the appellant be allowed. Learned counsel for the appellant further contends that inspite of several opportunities being granted, the respondent-bank has not filed reply, therefore, the interim order may be passed to save the interest of the appellant.

Learned counsel for the respondent-bank states that he wants to file reply to the waiver application. Learned counsel further submits that till date, no steps have been taken for taking physical possession of the property in question. If the steps are taken, the Bank will inform the appellant prior 15 days of taking steps. Therefore, at this stage, no interim order is required to be passed.

List this case on 22.03.2023. In the meantime, the respondent-Bank may file reply to the waiver application.

Justice R. D. Khare Chairperson

Anupam