Ms Tejasvi Enterprises and Others v. Indian Bank

Appeal Dy. No. 40/2023 Date: 14.02.2023

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.

Learned counsel for the appellants submits that about 50% of the amount due has already been deposited and he is ready to deposit remaining 50% within three months from today and till then the interim protection may be granted.

Learned counsel for the respondent-Bank contends that if the appellant is ready to deposit the amount due, he may to do so within reasonable time, otherwise the matter may be argued on merits.

Considering the facts and circumstances of the case, the appellants may deposit remaining 50% of the amount due within three months from today with the respondent-Bank and till then all the parties concerned are directed to maintain the status quo qua the property in question, as it exists today. If any such deposit is not made by the appellant within the stipulated period, the respondent-bank shall be free to proceed with the matter in accordance with law.

Accordingly, the appeal is disposed off.

Justice R. D. Khare Chairperson