Laxmi Narayan v. Capri Global Finance Pvt. Ltd.
Case brief
What is this about?
In this appeal filed under Section 18 of the SARFAESI Act, the chairperson disposed of the matter without deciding the core issue regarding the requirement of deposit, granting liberty to the appellant to approach the Tribunal for redressal on a specific application.
What did the court decide?
The order is disposed of with liberty to move appropriate application before the Tribunal within a period of one month.
What the court decided
Appeal Dy. No. 392/2023 Date: 13.04.2023
Laxmi Narayana Vs. Capri Global Finance Pvt. Ltd.
Present: Shri V. K. Shukla, counsel for the appellant,
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 02.03.2023 passed by the DRT, Jabalpur in S.A. No. 126/2023, whereby an interim order has been granted subject to condition of deposit.
The report of the registrar dated 06.04.2023 shows that the I.A. No. 266/2023 being waiver application and I.A. No. 267/2023 being urgency application are pending consideration. As the matter has been taken up, the urgency application being I.A. No. 267/2023 has become infructuous and is disposed off as such.
The learned counsel for the appellant submits that he is neither borrower nor guarantor or mortgagor, therefore, he is not required to deposit any amount, but the Tribunal below has granted the interim relief in favour of the appellant subject to deposit of certain amounts. It is, therefore, prayed that the order impugned may be modified to the extent of deposit of certain amount.
Perusal of the order impugned shows that the Tribunal below has observed that the appellant in the present appeal appears to be co-borrower and the main borrower is son of the appellant and the property, which is sought to be mortgaged, was purchased by the appellant. It is also observed that on the loan document, the photo of the appellant is affixed and
Issues for consideration
3 issues framed by the court
Whether an interim order granting relief subject to deposit of amount can be modified when the appellant is neither borrower nor guarantor.
Whether the Tribunal should express opinion on ownership of mortgaged property while main appeal is pending.
Whether the decision to dispose off the appeal without deciding the deposit issue can be legally sustained.
Parties & counsel
- appellant
Laxmi Narayana
- respondent
Capri Global Finance Pvt. Ltd.
Coram
R. D. Khare
Case details
As recorded by the court registry
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