Disposed

Ms Harishobha Agro Poultry through Its Propriftor Mrs Anita Waman Mawle v. Bank of Maharashtra

DRAT22 Apr 2025IA/230/2025

Case brief

AI extract

What is this about?

The appellate tribunal directed the appellants to deposit 40% of the sale proceeds (Rs.81,20,000) in two instalments to satisfy the statutory requirement under the SARFAESI Act for entertaining the appeal. Failure to deposit would result in rejection of the appeal.

What did the court decide?

Directing deposit of Rs.40,60,000 in two instalments by 06.05.2025 and 20.05.2025 to enable entertaining the appeal; rejection if deposit is made.

Ms Harishobha Agro Poultry through Its Propriftor Mrs Anita… — Banking and Recovery | DRAT (2025)

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DEBT RECOVERY APPELLATE TRIBUNALMUMBAI (SITTING AT -CHENNAI) I.A. No. 230/2025 (WoD) In Misc. Appeal Dy. No. 386/2025

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Dated: 22.04.2025

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This Application is filed seeking waiver of statutory deposit required under Section 18(1) of the SARFAESI Act, 2002, for entertaining the Appeal.

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Learned Counsel for the Petitipners/Appellants filed M.A. No. 147/2024 challenging Demand Notice dated 26.10.2023 and Possession Notice dated 28.12.2023. The Petitioners/Appellants are in possession of the property. The Respondent Bank, tried to take possession, therefore, the Petitioners/Appellants filed LA. No. 273/2025 for grant of stay and that Application was rejected on the ground that the order of the Learned CJM was not challenged in the Securitisation Application. Against this order, Petitioners/Appellants filed this Appeal along with Waiver Application.

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I I

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Counsel Learned 3.	for Resp	onden	t B	ank
submitted that the prop	erty is alr	eady	sold	for
Rs.2.03 Crores, on 06.09	.2024 and	the	sale	has
confirmed. Whe been	po the n	ssessi	on	was
scheduled on	25.03.20	25,		the
Petitioners/Appellants	restrained	the	Ba	nk’s
officials from taking	physical	pos	sess	ion.
a criminal Therefore, registered and the was	complaint anticipator	was g y bail	iven, Pet	FIR ition
was also dismissed. Pos	session is	to be	ha	nded
opposes the complete wa over to the Auction Pur	iver of pre-d chaser, and	eposit. thus,	stro	ngly
In the said circum 4. Counsel appearing for property has already be and there was objectio Petitioners/Appellants f Bank’s officials, this T directing the Pctitioners of Rs. 2.03 Crores, in tw meet the requirement u	stances stat the parties, en sold for n through il rom taking ribunal is o /Appellants o equal inst nder Secti	ed by and Rs.2.0 legal posse f the to de almen on 18	Lea that 3 C mean ssio view posit ts, (1) o	rned , the rores s by n, by that 40% would f the
SARFAES1 Act, 2002, Appeal.	for enterta	ining		the

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5. Rs.81,20,000/-. Therefore, Petitioners/Appellants shall deposit 6. equal two instalment, the ffrst Rs.81,20,000/- in Admittedly, 40% of Rs.2,03,00,000/- comes to
•instalment Rs.40,60,000/rto be deposited ^{on or} of instalment before 06.05.2025 and the second
20.05.2025. or before Rs.40,60,000/-,, to be deposited on
It is made clear that failure to deposit of either 7. of the instalments, the Appeal shall stand rejected.
by Petitioners deposit such making On
till further orders are passed. /Appellants, Registrar, DRAT, Mumbai, is to invest the same in a Nationalized Bank, from time to time,
8. compliance. Mks CHAIRPERSON ,o„wl (IN-CHARGE, DRAT, MUMBAI) Post the case on 27.05.2025, for reporting

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Ms Harishobha Agro Poultry through Its Propriftor Mrs Anita Waman Mawle v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

Ms Harishobha Agro Poultry through Its Propriftor Mrs Anita Waman Mawle v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

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