Appeal by an auction purchaser dismissed. Court held that interest accrued on sale consideration deposited during delay is payable to the Bank as the sale was confirmed and possession handed over.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
Appeal No. 10/2020
Between
M/s. Sudarshan Infracon Pvt. Ltd. V/s. Central Bank of India Mr. Dhrumil C. Shah, Advocate for Appellant. Mr. T.N. Tripathi, Advocate for Respondent.
… Appellant/s …Respondent/s
This is an Appeal filed by the auction purchaser for a limited purpose. The sale took place on 21.04.2011 and the Appellant had deposited a sum of ₹ 81 lakhs as sale consideration within the stipulated time. There was some delay in confirming the sale and therefore, the amount was retained by the Recover Officer so that interest would accrue and this was so done on an application filed by the Appellant. Ultimately, the sale was confirmed and possession of the property was also handed over to the Appellant.
1
I find no infirmity in the order passed by the D.R.T. and therefore, the order is confirmed and the Appeal is dismissed.
Sd/Chairperson
psa-19
2
M/s. Sudarshan Infracon Pvt. Ltd.
Central Bank of India
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
