Sannareddy Nandagopal Reddy v. Icici Bank Limited

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

Misc. Appeal Diary No. 806 of 2024 (Arising out of S.A. 424 of 2024 in DRT, Visakhapatnam)

Order No. 05 23.9.2024 Sannareddy Nandgopal Reddy … Appellant -VsICICI Bank Limited 5 & Others … Respondents

Mr. Nemani Srinivas, Learned Counsel for the Appellant

THE APPELLATE TRIBUNAL :

For Admission

Heard the Learned Counsel for Appellant on Admission and perused the record.

At the very outset, Learned Counsel would submit that Appellant is ready and prepared to make the deposit as per the order of the Learned DRT but not in the loan account rather in a ‘No Lien Account’.

Learned DRT has passed an order directing the Bank not to confirm the sale subject to petitioner depositing Rs.180.00 lac in two instalments in the Loan Account with the Bank. Since Appellant is ready to make the deposit in compliance of the order of the Learned DRT, however, not in the Loan Account rather in an interest bearing ‘No Lien Account’.