Ms Prasad v. Canara Bank

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

(Dy. No. 63 of 2023)

(Arising out of S.A. No. 521 of 2018 in DRT -2 Hyderabad)

THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA

CHAIRPERSON

11.04.2023

M.S. Prasad … Appellant -Vs-

Canara Bank & 2 ors ….Respondents

Mr. Sarosh Bastawala, Learned Counsel for the Appellant None for the Respondent

THE APPELLATE TRIBUNAL :

Admission

Issue notice to the Respondent. Learned Counsel for the Appellant submits that the Appellant is prepared to make a pre-deposit of Rs. 35 lacs. In view of the notice at page No. 71 of the Paper Book this amount appears to be appropriate to satisfy the mandatory provisions of Section 18 of the SARFAESI Act. Accordingly, I.A. No. 126 of 2023 is allowed. Appellant is directed to make a deposit of Rs.35 lacs within a week.