Ms Tejasvi Enterprises and Others v. Indian Bank
Case brief
What is this about?
An appeal under Section 18 of the SARFAESI Act against a DRT final order was listed for pre-deposit. The court noted a waiver application claiming partial payment and directed the appellant to explain maintainability and the Bank to reply.
What the court decided
A compact analysis
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Appeal Dy. No. 40/2023 Date: 23.01.2023
M/s Tejasvi Enterprises & Ors. Vs. Indian Bank
Present: Shri Anubhav Chandra, counsel for the appellants, Shri A. K. Srivastava, counsel for the respondent-Bank,
Heard the learned counsels for the parties.
The present appeal has been filed under section 18 of the SARFAESI Act against the final order dated 08.12.2022 passed by the DRT, Patna in S.A. No. 220/2022. The report of the Registrar dated 20.01.2023 shows that no pre-deposit has been made and I.A. No. 29/2023 being waiver application has been filed, in which it has been stated that as per demand notice, the dues against the appellant was shown to be Rs. 31,75,016.70 as on 31.03.2021 along with interest and the appellant has deposited Rs. 9,94,502/- with the respondentBank. Let the appellant explain, as to how the appeal is maintainable in absence of pre-deposit.
Learned counsel for the respondent-Bank may file reply to the waiver application.
List this case on 21.04.2023 for pre-deposit.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
2 issues framed by the court
Whether an appeal under Section 18 of the SARFAESI Act is maintainable without pre-deposit.
Whether a waiver application has been decided regarding the pre-deposit requirement.
Parties & counsel
- appellant
M/s Tejasvi Enterprises & Ors.
- respondent
Indian Bank
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · January
- CNR
- 091090000402023
- Topic
- Banking and Recovery
All orders in this case
5 orders share this CNR
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