Sunil kr. Arora and Anr. v. Bank of Baroda and 2 Ors.

Appeal Dy. No. 283/2023 Date: 02.05.2023

Present: Shri Sahil Srivastava, Advocate holding brief of Shri Udai Chandani, counsel for the appellant, Shri Maneesh Mehrotra, counsel for the respondent-Bank, None for the respondent nos. 2 & 3,

Learned counsel for the respondent-bank states that by concealment of the material fact, the interim order has been obtained by the learned counsel for the appellant in the present case. The learned counsel has referred to the page no. 248 of the appeal, which is a proclamation of the sale under rule 52(2) of the Second Schedule to the Income Tax Act, 1961 read with Section 25 to 29 of the RDB Act 1993, and has argued that it pertains to the R.C. No. 281/2020 (O.A. No. 162/2020), whereby the recovery certificate dated 13.11.2020 in O.A. No. 162/2020 has been drawn up by the Tribunal below for recovery of Rs. 1,20,11,684.29 along with pendentelite and future interest, but the learned counsel for the appellant showing the total recovery of Rs. 45,43,231.27 and 25% amount of the same has been deposited as predeposit, has obtained the interim order in the present case.

Learned counsel for the appellant submits that two O.As. were filed by the respondent-Bank and against the judgment passed in O.A. No. 162/2022, the Appeal Dy. No. 1026/2022 has been filed before this Tribunal, which is still pending. The aforesaid recovery certificate has been issued in the said O.A. and not in the O.A. under challenge in the present appeal. The present appeal does not pertain to the recovery certificate as mentioned above.

Learned counsel for the appellant contends that he has filed rejoinder to the aforesaid objection and further contends that he has only challenged a portion of the property in question

as there are two properties, one is residential and another is an open land. The learned counsel further submits that against the residential property, there is only recovery of Rs. 45.00 lacs approximately, 25% of which has already been deposited.