1.M/S N.E. Infratrade. 2) Mr Neeraj Deka v. Bank of Baroda
Case brief
What is this about?
The DRAT dismissed an appeal for non-compliance of the mandatory pre-deposit requirement under Section 18 of the SARFAESI Act. Relying on Narayan Chandra Ghosh, the court held that without the deposit, the DRAT lacks jurisdiction to entertain the appeal.
What did the court decide?
Appeal dismissed for non-compliance of pre-deposit order dated 15.12.2023.
What the court decided
Camp Court at DRT, Guwahati
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
Diary No. 796 of 2023 (Arising out of S.A. 129 of 2023 in DRT, Guwahati)
Order No. 11 21.5.2024 M/s. N.E. Infratrade & Another … Appellants -VsBank of Baroda … Respondent Mr. Partha Bose, Learned Counsel for Appellants Mr. Dipanjan Datta, Learned Counsel for Respondent Bank Mr. Abhishek Agarwal, Authorised Representative of HDFC Bank Limited
THE APPELLATE TRIBUNAL :
Heard Learned Counsel for the parties and perused the case record. An order was passed on 15.12.2023, directing the Appellant to make a pre deposit of Rs. 50.00 lac under the proviso of Section 18 of the SARFAESI Act. It was directed that in case the pre deposit is not made appeal shall stand dismissed.
Admittedly, pre deposit is not made by the Appellant. Learned Counsel for Appellant would submit that the appeal cannot be dismissed for want of pre deposit. He places reliance upon a judgment of Hon’ble Allahabad High Court in M/s. Sai Enterprise & 2 Others -VsDebt Recovery Appellate & Another [(2023) ibclaw.in 160 HC]. It is
2
Issues for consideration
2 issues framed by the court
Whether an appeal under Section 18 of the SARFAESI Act can be entertained without compliance of the pre-deposit proviso.
Whether mandatory pre-deposit provisions can be waived by the DRAT.
Parties & counsel
- appellant
M/s. N.E. Infratrade & Another
- respondent
Bank of Baroda
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · May
- CNR
- 191090007962023
- Topic
- Banking and Recovery
All orders in this case
6 orders share this CNR
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