Shri Nikhil Khandelwal v. Bank of India and Anr.

Camp Court at Bhopal

Appeal Dy. No. 35/2021 Date: 04.12.2023

Shri Nikhil Khandelwal Vs. Bank of India & Anr.

Present: Shri Akshat Agarwal, counsel for the applicant, None for the respondent-Bank,

Heard the learned counsel for the applicant on the recall application.

Learned counsel for the applicant submits that against the total demand of Rs.1,97,29,487.62, Rs. 60.00 lacs was deposited by the applicant with the respondent-Bank, which comes to be more than 30% of the said demand and for the rest amount, waiver is being sought for.

Learned counsel for the applicant further submits that the applicant has filed an application for redemption of the property in question and if the present appeal is allowed and the auction sale is set aside, the entire amount shall be paid. The learned counsel also submits that the applicant shall deposit further amount of Rs. 10.00 lacs, out of which Rs. 5.00 lacs within 15 days and the remaining Rs. 5.00 lacs within 15 days thereafter before the Registrar of this Appellate Tribunal. It is therefore prayed that considering the total deposits, which is more than 35% of the amount due, the order dated 13.07.2023 passed by this Tribunal and the order dated 19.09.2023 passed by the Registrar, by which the appeal was dismissed, may be recalled.

In view of the above and subject to deposit of Rs. 10.00 lacs within the stipulated period, the recall application stands allowed and the orders dated 13.07.2023 and 19.09.2003 are hereby recalled. In case of non deposit of the said amount, the present recall application shall stand dismissed.