Kayakalp Agencies and Anr. v. Syndicate Bank and 2 Ors.
Case brief
What is this about?
The single-judge tribunal reserved an order on extending interim protection in an appellate case regarding possession of property, noting a fresh pre-deposit of 25% and the appellant's possession arguments.
What the court decided
A compact analysis
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Appeal Dy. No. 249/2022 Date: 18.09.2023
Kayakalp Agencies & Anr. Vs. Syndicate Bank & Ors.
Present: Shri R. K. Srivastava, counsel for the appellants, Shri Maneesh Mehrotra, counsel for the respondent-Bank,
Heard the learned counsel for the appellants on the urgency application being I.A. No. 729/2023.
Learned counsel for the appellant has deposited today Rs. 42.25 lacs towards pre-deposit through five demand drafts bearing draft no. 000008 dated 14.09.2023 for Rs. 9.00 lacs, draft no. 000009 dated 14.09.2023 for Rs. 9.00 lacs, draft no. 000010 dated 14.09.2023 for Rs. 9.00 lacs, draft no. 000011 dated 14.09.2023 for Rs. 9.00 lacs and draft no. 000012 dated 14.09.2023 for Rs. 6.25 lacs and prior to it, he had deposited Rs. 12.50 lacs. As such the appellant has deposited total Rs. 54,75,000/-, which is 25% of the demanded amount.
Let the amount deposited today be kept in the form of FDR in the nationalized Bank for a period of one year in auto renewal scheme.
It is further contended that the interim protection granted earlier may be extended, as the possession of the property has not yet been handed over to the auction purchaser.
Learned counsel for the respondent-Bank submits that since the mandatory deposit was not made, therefore, interim protection granted earlier was not extended by this Tribunal. It is argued that the appellant had also filed a writ petition no. 23003 of 2023 before the Hon’ble High Court of Madhya Pradesh, Indore Bench, Indore, which has been dismissed
Parties & counsel
- appellant
Kayakalp Agencies & Anr.
- respondent
Syndicate Bank & Ors.
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · September
- CNR
- 091090002492022
- Bench
- Rajesh Dayal Khare
All orders in this case
16 orders share this CNR
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