The tribunal admitted the appellant's appeal fix�ity a condition precedent of making a ₹32 lakhs pre-deposit. The order sets payment terms and defers possession enforcement until compliance.
Demeded the appeal entertained, enhanced appellant must deposit ₹32 lakhs; possession deferred pending first instalment.
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.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson I.A. No. 20/2025 (WoD) In
Misc. Appeal on Diary No. 55/2025
Between
Sharif Yasin Padiyar … Appellant/s V/s.
Bank of India & Ors.
…Respondent/s
Ms. Maneesha Patel, Advocate for Appellant.
Mr. Anant B Shinde, Advocate for Respondents.
The matter is taken up for hearing by way of a praecipe filed by the appellant for seeking urgent relief.
The appellant is the guarantor of a loan availed by the 2nd respondent company of which the 4th respondent is the director. The subject property was offered as the mortgage for the debt by the appellant who is the co-owner of the property along with his wife who is the 3rd respondent. The repayment of the debt was defaulted. As a result, a demand notice was issued u/s 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002 ( “SARFAESI Act” for short) on 22.06.2015 demanding a sum of ₹60,33,177/-as of 28.05.2015. The appellant claimed that a certain amount was paid, but the entire debt was still not cleared. Consequently, further steps u/s 13 (4) were taken.
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SARFAESI Act and make a pre-deposit. The demand notice was issued in 2015 and thereafter, there have been certain payments but interest has also accrued and the Ld. Counsel appearing for the respondent bank submits that as of date there is an outstanding due of ₹76 lakhs. The said amount is taken as the threshold amount for calculating the pre-deposit.
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appellant who gets an opportunity to submit his pleadings in the appeal and therefore, the appellant is directed to pay a sum of ₹32 lakhs as pre-deposit for entertaining this appeal. The Ld. Counsel appearing for the appellant submits that the amount would be paid in two instalments. The appellants may be paid as stated hereunder:
| Numbers of Instalments | Payment on or before |
|---|---|
| 1stInstalment₹16 lakhs | 23.01.2025 |
| 2ndInstalment₹16 lakhs | 06.02.2025 |
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List the matter on 24.01.2025 for reporting compliance regarding the payment of the 1st instalment of pre-deposit.
Sd/Chairperson
psa-32
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2 issues framed by the court
Whether the appellant is entitled to entertain the appeal under Section 18(1) of the SARFAESI Act after making the requisite pre-deposit.
Whether the appellant is eligible for a 25% waiver of the pre-deposit on account of financial hardship.
2 provisions across 2 enactments
Sharif Yasin Padiyar
Bank of India
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
