Vijay Kumar v. Union Bank of India

Appeal Dy. No. 1002/2022 Date: 19.12.2023

Vijay Kumar Vs. Union Bank of India

Present: Shri Satyajeet Mukherjee along with Shri Rishi Upadhyay, counsel for the appellant, Shri Sandeep Arora, counsel for the respondent-bank,

Learned counsel for the appellant submits that total a sum of Rs. 33.00 lacs has been deposited by the appellant against the demand of Rs. 42.85 lacs, which is more than 50% of the amount due. Therefore, the waiver application may be allowed.

Since more than 50% of the amount due has been deposited by the appellant, therefore, he is not required to tender any amount towards pre deposit for the purpose of maintaining the appeal.

Accordingly, the waiver application is allowed.

Learned counsel for the respondent-bank submits that there is no action taken by the Bank for taking possession of the property in question, hence no interim order is required to be passed. Learned counsel for the respondent-Bank further submits that today no possession is being taken by the Bank and prior to taking possession, appropriate notice shall be given.

Learned counsel for the respondent-Bank seeks time to file reply. Let the reply be filed by the next date.

List this case on 05.03.2024 for reply.