Sri Nata Krishna Parua v. Uco Bank
Case brief
What is this about?
The DRAT held that the Sidha Neelkanth Paper Industries judgment applies to the pre-deposit requirement under Section 18 of the SARFAESI Act. The appellant was directed to deposit 50% of the debt due inclusive of interest.
What did the court decide?
Appellant allowed time to deposit Rs. 3,47,29,842/- inclusive of interest within six weeks, Rs. 38,80,265/- already deposited adjusted.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Appeal. No. 01 of 2023-DRAT-Kolkata
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
(Appeal No. 01 of 2023)
(Arising out of S.A. No. 566 of 2022 in DRT –2 Kolkata)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON
- Sri Nata Krishna Parua, son of Late Narendra Nath Parua, partner of M/s Balaji Auto also known as M/s, Balaji Bajaj Auto residing at Village -Padumbasan, P.O. & P.S. Tamluk, near Hospital More, Pin -721636
…Appellants
-Versus-
- UCO Bank, Hooghly Zonal Office, UCO Bank, Hooghly Zonal Office;21, New G.T. Road, Post Office -Uttarpara, District-Hooghly, Pin-712258.
- The Chief Officer (Authorized Officer), UCO Bank, Hooghly Zonal Office, 21, New G.T. Road, Post Office- Uttarpara, District – Hooghly, Pin -712258.
Issues for consideration
3 issues framed by the court
Whether the appellant has complied with the pre-deposit requirements under the second proviso to Section 18 of the SARFAESI Act.
Whether the amount of debt to be deposited includes interest and future interest as per the judgment of Sidha Neelkanth Paper Industries.
Whether the appellant is liable to pay a pre-deposit of 50% of the debt due (inclusive of interest) or the amount given in the demand notice.
Parties & counsel
- appellant
Nata Krishna Parua
- respondent
UCO Bank
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
All orders in this case
16 orders share this CNR
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