Raviputram Oil Mills v. Uco Bank
Case brief
What is this about?
This direction lists the SARFAESI Act appeal for urgent consideration on 30.05.2023 to dispose of waiver, exemption, stay, and urgency applications pending before the court.
What the court decided
A compact analysis
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Appeal Dy. No. 627/2023 Date: 29.05.2023
Raviputram Oil Mills Vs. UCO Bank
Learned Counsel for the appellant Shri Shadab Alam is present. Defects reconciled.
Appellant has already deposited Rs. 19,000/- through Demand Draft on 25.05.2023.
A Waiver Application being I.A. No. 415/2023 and Exemption Application being I.A. No. 417/2023 have been filed stating that against the total outstanding of Rs. 2,10,76,033.46 in terms of notice under section 13(2) dated 11.06.2019 (page No. 61), appellants have already deposited Rs. 52,69,009/- i.e. 25% of the outstanding amount with the respondent-Bank and submitted that it is evident from the statement of account annexed at page No. 301 of the appeal. Hence, prayed for Waiver/Exemption for depositing further amount.
The present appeal has been filed by Bank under section 18 of the SARFAESI Act against the final order dated 02.05.2023 passed by DRT, Lucknow in S.A. No. 780/2019. Urgency Application (I.A. No. 414/2023), Waiver Application (I.A. No. 415/2023) Stay Application (I.A. No. 416/2023) and Exemption Application (I.A. No. 417/2023) have been filed.
List this case before Hon’ble Court on 30.05.2023 for order.
Registrar
Issues for consideration
2 issues framed by the court
whether the bailiff waiver and exemption applications in the appeal under section 18 of the SARFAESI Act should be disposed of urgently.
whether the appellant has already deposited the required 25% of the outstanding amount to avail waiver/exemption.
Parties & counsel
- appellant
Raviputram Oil Mills
- respondent
UCO Bank
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · May
- CNR
- 091090006272023
- Topic
- Banking and Recovery
All orders in this case
14 orders share this CNR
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