M/S Tirupati Storage and 3 Ors. v. Uco Bank and 2 Ors.

Regular Appeal No. 99/2014 Date: 18.12.2023

M/s Tirupati Storage Vs. UCO Bank

Present: Shri Kartikeya Saran, counsel for the appellant, Shri P. K. Gupta, counsel for the respondent-Bank,

Learned counsel for the appellant submits that the learned Presiding Officer, Debts Recovery Tribunal, Patna has passed the order merely on assumption that the loan was sanctioned and disbursed to the borrower taking into consideration the averment made by the Bank to be correct without considering the annexures filed along with W.S., which categorically shows that out of total sanctioned amount of Rs. 1.53 crores, Rs. 68.00 lacs was disbursed, against which Rs. 76,69,166/- has already been deposited.

Learned counsel for the respondent-Bank submits that the appellant was permitted to file waiver application vide order dated 29.09.2023, but till date the same has not been filed. Therefore, the appellant may be directed to file waiver application on or before the next date. In this regard, learned counsel for the appellant submits that the I.A. No. 823/2023 was filed on 11.10.2023 and copy of the same has also been served upon the counsel for the respondent-Bank.

Learned counsel for the respondent-Bank prays for some time to file objection to the same.

Learned counsel for the appellant further submits that the property of the appellant has already been sold, but the sale has not yet been confirmed, therefore the interest of the appellant may be protected.

Learned counsel for the respondent-bank submits that he has no information with regard to the submission made by the learned counsel for the appellant and he seeks time to verify the same.