Raviputram Oil Mills v. Uco Bank
Case brief
What is this about?
This urgent order addresses procedural directions in an appeal against an auction sale. The Court directed the appellant to keep the submitted deposit in a Fixed Deposit Receipt and preponed the hearing to determine the maintainability of the appeal.
What did the court decide?
Directions issued to keep deposit money in FDR; hearing on maintainability preponed to 11.12.2023.
What the court decided
A compact analysis
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Appeal Dy. No. 627/2023 Date: 07.12.2023
Raviputram Oil Mills Vs. UCO Bank
Present: Shri Shadab Alam, counsel for the appellant, Shri P. K. Gupta, counsel for the respondent-Bank, Shri Ankur Gupta, counsel for the respondent-Auction Purchaser,
Learned counsel for the appellant submits that he has further deposited a demand draft no. 815344, dated 05.12.2023 for Rs. 52,50,000/- towards pre-deposit to show his bonafide, although the same amount was earlier deposited by the applicant no. 2 with the Bank, which has been credited in no lien account. It is contended that a letter dated 09.02.2023 issued by the Bank is a manufactured document, which was never served upon the appellant. It has been manufactured to show that the appellant has obtained the status quo order passed in the present appeal by giving false averment with regard to the deposit of Rs. 52.50 lacs.
Learned counsel for the respondent-Auction Purchaser states that the present appeal is not maintainable and the Hon’ble High Court has directed vide order dated 22.11.2023 to decide the question of maintainability of appeal prior to the disposal of this appeal.
Let the amount of Rs. 52,50,000/- be kept in the form of FDR in the nationalized Bank for a period of one year in auto renewal scheme.
As today the matter was fixed for considering the urgency application, which has been considered and allowed. Accordingly, the date already fixed for 14.12.2023 is preponed to 11.12.2023 for hearing on the maintainability of the appeal.
Justice R. D. Khare Chairperson
Parties & counsel
- appellant
Raviputram Oil Mills
- respondent
UCO Bank
- respondent
Auction Purchaser
Coram
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · December
- CNR
- 091090006272023
- Topic
- Banking and Recovery
All orders in this case
14 orders share this CNR
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