Shri Ram Gopal Maheshwari v. Canara Bank

Appeal Dy. No. 1176/2022 Date: 11.01.2023

Shri Ram Gopal Maheshwari Vs. Canara Bank

Present: Shri K. Kartikeya, counsel for the appellant, Shri Maneesh Mehrotra, counsel for the respondent-Bank,

Heard the learned counsels for the parties.

The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 22.11.2022 passed by the DRT, Allahabad in S.A. No. 219/2021. The report of the Registrar dated 09.01.2023 shows that I.A. No. 727/2022 being urgency application and I.A. No. 728/2022 being waiver application have been filed.

Since the matter has been taken up today, therefore the urgency application being I.A. No. 727/2022 has become infructuous and is disposed off as such.

Learned counsel for the appellant contends that by the impugned order dated 22.11.2022, the interim order has been vacated only on the ground that the appellant had sought adjournment, as the fact remains that applicant has deposited Rs. 2.29 crores with the respondent-Bank in pursuance of the order of the Tribunal below.

Learned counsel for the respondent-Bank submits that the statement of account was provided to the appellant, but inspite of the same, the appellant did not approach the Bank for settlement of the dues nor made any attempt to settle the amount, but kept on lingering the matter. As on date, the dues for more than Rs. 5.00 crores are pending for payment.