New Star Enterprises v. Union Bank of India
Case brief
What is this about?
The court allowed the waiver application because the appellant deposited more than 25% of the disputed amount. The appeal pending appeal notice was issued to respondents via registered post and speed post, with further steps to be taken by the appellant.
What did the court decide?
The waiver application for maintaining the appeal was allowed as the appellant deposited more than 25% of the amount due.
What the court decided
Appeal Dy. No. 156/2023 Date: 02.03.2023
New Star Enterprises Vs. Union Bank of India
Present: Shri S. K. Gupta, counsel for the appellant,
Heard the learned counsel for the appellant on admission.
Learned counsel for the appellant has drawn attention of this Court to the page no. 34 of the paper book, which is a notice dated 21.05.2022 issued by the Bank under section 13(2) of the SARFAESI Act demanding a sum of Rs. 24,87,833.96. Today, the appellant deposits a demand draft no. 689505 dated 02.03.2023 for Rs. 7.00 lacs towards pre-deposit, which is more than 25% of the amount due, therefore, the waiver application may be allowed.
Since more than 25% of the amount due has been deposited by the appellant, therefore, the waiver application is allowed and rest of the amount to be deposited by the appellant for maintaining the appeal is waived.
Issue notice to the respondents by two modes i.e. Registered Post with A.D. and Speed Post. Steps to be taken by the appellant within a week. Affidavit of service along with tracking report be filed by the next date.
List this case on 24.05.2023 for service.
Justice R. D. Khare Chairperson
Issues for consideration
1 issue framed by the court
Whether the waiver application for pre-deposit in an appeal is allowed since more than 25% of the amount due was deposited.
Parties & counsel
- appellant
New Star Enterprises
- respondent
Union Bank of India
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
5 orders share this CNR
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