This order grants interim protection by directing the petitioner to deposit 50% of the claimed demand amount to show bona fides. The court orders the parties to maintain status quo pending compliance.
Direct payment of Rs.24,50,000 within two weeks and maintenance of status quo.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 266/2023 in MA (SA) 21/2023
D.Chandrika Vs A.O, Union Bank Of India And 2 Ors
07/08/2023
This Application is filed seeking stay of all further proceedings of 2nd Respondent Bank in respect of secured property pursuant to Order dated 24.05.2023 passed in IA 2320/2022 in SA 593/2022.
Heard both sides.
Learned Advocate for Petitioner/Appellant submitted that the Petitioner is daughter of borrower, and she already filed Partition Suit claiming a share in the property, now proceeded by 2nd Respondent Bank under SARFAESI Act, 2002. He submitted, Advocate Commissioner issued Notice for taking possession by tomorrow i.e. 08.08.2023 and in view of that, there is urgency in the matter, and submitted, interim protection may be granted.
Counsel for 2nd Respondent Bank opposed the Application.
As seen from record, the property is Acre 0.73 cents of land and according to Petitioner/Appellant, it is an agriculture land, but Bank disputed it.
Now, without going into that aspect, leaving contentions open to both parties, which can be decided in main Appeal, to protect the interest of parties, I deem it proper to direct Petitioner/Appellant to deposit certain sum to show her bona fides .
It is represented that the amount claimed in Demand Notice issued under Section 13(2) of SARFAESI Act, 2002, is Rs.48,90,354.92p, which can be rounded off to Rs.49 Lakhs. As Petitioner/Appellant is claiming 50% share in the property, she has to deposit 50% of that amount.
Therefore, Petitioner/Appellant shall deposit Rs.24,50,000/(50% of Rs.49,00,000/-), with Registrar of this Tribunal, within two weeks from today i.e., on or before 21.08.2023.
Post the case on 22.08.2023, for compliance of payment. Vakalat of Respondent No. 2 Bank by then.
Till then, parties shall maintain status quo
Sd/Chairperson
1 issue framed by the court
Whether to grant interim protection in a secured property matter amidst a partition suit.
1 provisions across 1 enactments
D.Chandrika
A.O, Union Bank Of India
Chairperson
As recorded by the court registry
8 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
