Common order on IA 179/2025 and IA 180/2025 regarding waiver of statutory deposit for appeals against decisions under the SARFAESI Act. Court directs deposit of 20% of amount due.
Direction to deposit 20% of Rs. 24,15,000/- in two installments by 20.03.2025 and 11.04.2025.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
I
DEBTS RECOVERY Ali PEtLATE TRIBV.NAL AT M:UMBAI 1. ' (SITTING AT CHENNAI) IA I 79/2025 in Diary No. 376/2025 ✓ And IA 180/2025•in Diary No. 394/2025 · Dated: .18;03.2025 COMMON ORDER .1, The1,e Appli¢atiofls [IA 179/2025 .in Diary No, 376/2(,2$ and 1A 1;80/2025 in Diary :No .. 394/2025) are filed seeking waiver of ,statutory deposit requited Under Section. 18 {l) -.of the • SARFAESI Act, 2002, for entertaining.the.Appeals, Heard both sides through \IC,. 2. Learned Counsel for -Petitioners/ AppcHan:ts submitted that Petitioners/ Appellants av.ailed two loah facilities from the Respondent Financial Institution. Challenging the measut.::i; taken by Respondent lj1stitutiqn, PeHtioners/Appellants filed SA1 27,3/!2024 and SA 274/2024 to .quash and to set ll.side the ¥1easures initiated by•issµing Demand otjce 23,01,.20.24 µildet Section 13(2), Symbolic
ossession Notice bsued under Secti9i:i 13(4), ated 04 .. 04.2024 and order under Section 14 of - . , ARFAESI Act passed by Learned Additional Chief · udicial Magistrate, Jiu:hnagar; dated 07..10.2024-. er the contest; both :SecUFitisa:tion .Applications ave been. <;lismlssed, oh 03,03,2025., C.halleniµng .. e ·aismjssai o(·both :Secur:itisa.tion Applicatioris·, ·. ese ,AppeaJs,have 1:>e<ln filed. Learned Couris¢1 for P.etition.ers/.AppeUants rther submitted that .Learned, Presicji_ng Officer, •' .Ahmedabad, ditt!cted the etitioners/ Appellants to <;leposit Rs.5 Lalili.s •in SA 73/2024 and Rs,12. Lakhs in SA 274/2024, and · h ,such depo�it, din:ctea the Respondi;nt iistitution to regufsttize the. loim account. li1 all, e Eelitioners/Appellai1ts paid Rs.J7 Lakhs .In the said c_irc;umstances, Learne.d Counsel for the Financial .in$tltiltion ·,pposed the Waiver Applicatjon and submitte<l that. ' e . .Petitioners/Appellants avajlcd two '.Joans; OI'ie .1rt 01,9 for Rs.29,66;787/s and another in 2020'/&;f As per Dernan9 Notice issued hder Sectiol_l 13(2) of SARF'AESJ' Act, 2002, tile • • L • • •
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l
| am,o.unt 'due as on the | date of issuance, of. Demand |
|---|---|
| . l'J<Jtice of firi,t loan,, f | s �s.55;7Sj5Jp/- ,artd Jor |
| · secorid Joarr, the amo | unt due, is RsA2;44;627 /-, |
| a'l:id,puttogether, the | .Petitiohers/APpellarits a.tie. |
| 'iiable to pay Rs,98,2 Retitioner;s/AppeHants |
0,143/-. Of this amount, lmd cleposited only Rs;l7 |
| • La.Jws as per th,e or | deu, of Learned �residin& |
| • Officer; ORT0H, .Alu;n¢q | abad. Learned Coun:sef Jqr |
| • Re,sponclenf Institution adjusting: this amount! Lakhs. |
submits that e.veh alter the due as of 116w, ·is Rs.99 |
| : 5', In ·tlie 1ight of |
the sui:>missiqns maqe. °l:>y |
| 'Lelll11e,d Cou.niiel �ppe the PetitiOrtets/A'ppeila |
arihg for the pat es- and Jhat h:tS availed two Joans and |
| issUe.d a c·ommon De 13(2) ,and Possession N the, SARFAESI Act, '.20 |
mand Notice .under Section otice, under Section 13{4) •of 0'.2, an.ct that after adj11s6ng |
| ,the amount ,alr |
eady .paid by the |
| . Petitioners/Appellants, around Rs.99 Lakhs; |
the amount •stildue i:, thts' Tribunal is •of the 'view· |
| • that;, d,irecting the Petit 2$o/o .ofRs.99,,bb,OQO/- |
ioners/ Appe]Jarits t<J ·deposit , in eacti ofthc. Appeais, ·viz. |
| :re..179/?,025 in. :Oi_ |
clfy No. 3'76/2025 and IA |
| iS0/2025 in Diary |
No. 394/2025, in two |
| instalments, ·woUld m | eet the requirement unde1' |
| Section 18(1). of SARFAESI Act; 2002, fat |
|---|
| i::nter,tail1ing.;the Appcal_s. |
| 6, 'theatnouht of Rs:24,15,00ti(-; shalbe paid in two ih'stafemehts,. i.e., iOo/o ,of R>i.24,15/JOQ/-, i,e. Rs.2;47,500/- :foal! b¢ depositetl,011.or bcfqre 20;03;2025 and bafance amount_ot_.Rs.22,27.,5.00/, .. op. or before lT.04.2025., ih. each •Of' the, ,Appe}HS, viz. IA 1'19/20�5 in Diary No. 376/2025 arid IA |
| l.80/2025 in Di•a.ry' No. 394/2025.. on .such |
| payrtlerit_PY_J'etitio1,1e�s1 Appe!Iants, taking •of' · possession has to. b.e de�ep:ed tiH the next :hearing. · If the 'first ,ifista.i.m¢ht, is :hot paid oh or before '..tQi03.2025,.'the Respondent lhstitutioncis -at liberty l to prqc<ied wH:h taking.possession. "l, Jt"is made clear•tha.t failure to dep_dSit' of either ·of the insta.;Jn:ients; 'the respective Appeals shafi. |
| -stand rejected. bn making su<:11 deposit by |
| . Petiti6ncts/Appeilants, ,Registrar, bRA'I\ Mumbai, is ·to invest the same in a Nat ionalized Bank, from time. to time_, till further orders are passed. |
| 8. Post t1-!e case on lo:04.2025., for compliance .of payments . |
| .PAM Sd/- CP |
1 provisions across 1 enactments
Petitioners/Appellants
Respondent Financial Institution
UNKNOWN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
