M/S Shri Krishnan Trading and Others v. Union Bank of India

DEBT RECOVERY APPELLATE TRIBUNAL - ALLAHABAD

Dy. No. 1196/2023

M/S SHRI KRISHNAN TRADING AND OTHERS V/S UNION BANK OF INDIA

Date: 19/09/2023

Item: __

Sh. V. K. Shukla, Ld. Counsel for the appellant is present.

Ld. Counsel pleads that he will submit the certified copy of the Impugned order before the Hon’ble Court as and when required.

With regards to pre-deposit, Ld. Counsel for the appellant, submits that the appellant – borrower himself has purchased the property in question in auction for Rs. 6,48,13,000/-, against a demand of Rs. 6,05,45,127.69. The respondent bank has recovered the said amount, which is more than 50% of the amount due. Therefore, no further amount is required for entertaining the appeal.

However, the case may be listed before the Hon’ble Chairperson for argument on the said point.

The present Regular Appeal is filed u/s 18 of the SARFAESI Act, 2002, against the Final order dated 03.02.2023 passed in S.A. No. 96 of 2022 by DRT, Jabalpur. Urgency Application (I.A. No. 751 of 2023) and waiver application (I.A. No. 752 of 2023) filed.