The Appellate Tribunal dismissed the appeal against Bank of Baroda for non-deposit of the mandatory 25% maintenance fee under Section 18 of the SARFAESI Act, 2002, rendering the appeal non-maintainable.
The appeal was dismissed for non-deposit of the required amount under Section 18 of the SARFAESI Act, 2002.
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Regular Appeal No. 07/2022 Date: 04.07.2023
Shri Naresh Soni & Ors. Vs. Bank of Baroda
Present: Shri Arvind Singh, Advocate holding brief of Shri V.K. Shukla, counsel for the appellants, Shri Avinash Jaiswal, counsel for the respondent-Bank, Shri Vikas Rathi, counsel for the respondent-Auction Purchaser,
This Tribunal passed an order on 20.03.2023 to deposit 25% of the amount due for entertaining the appeal. The order was passed by this Tribunal to entertain/maintain the appeal by virtue of section 18 of the SARFAESI Act, 2002. The amount as such has not been deposited by the appellant.
Since no amount is deposited, therefore, the appeal is not maintainable and is liable to be dismissed for non deposit of the amount by virtue of section 18 of the SARFAESI Act, 2002 and also in the light of the judgment passed by the Apex Court in M/s Prestige Light Ltd. Vs. State Bank of India, 2007 AIR SCW 5330. Accordingly, the appeal is dismissed.
Justice R. D. Khare Chairperson
Anupam
2 issues framed by the court
Whether an appeal is maintainable under Section 18 of the SARFAESI Act, 2002 when the required deposit of 25% of the due amount has not been made.
What is the consequence of non-deposit of the maintenance fee under Section 18 of the SARFAESI Act?
Colour shows how this judgement treated each authority
M/s Prestige Light Ltd. Vs. State Bank of IndiaReferred¶5
2007 AIR SCW 5330 · Who else cites this
2 provisions across 2 enactments
Shri Naresh Soni & Ors.
Bank of Baroda
Shri Vikas Rathi
R. D. Khare
As recorded by the court registry
7 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
