This Application is filed seeking waiver of statutory deposit required under Section 18(1) of the SARFAES1 Act, 2002, for entertaining the Appeal. Learned Counsel for Petitioncrs/Appellants filed SA (Diary) No. 751/2024 challenging the measures taken, especially, 'measures Under Section 14 of the SARFAES1 Act, 2002. Pending ;SA, the Petitiohers/Appellants filed I.A. No?1461/2024 seeking protection against taking possession. This Application was dismissed. Therefore, this Appeal is filed along with Waiver Application. Learned Counsel for Respondent Financial Institution strongly opposes the Waiver Application on the ground that there rare two loans and two Demand Notices issued under Section 13(2) of the SARFAES1 Act, 2002, demanding a sum of Rs.57,60,442/- and Rs.3,54,739/-, due as on 26.09.2015. The current outstanding is much more. The Petitidners/Appellants wanted to make payments by submitting proposal exhibited in Exhibit A -.- 13 before Tribunal. However, the Petitioners/Appellants have not honoured the commitment, and did not pay the amount. That was the reason why the Learned Presiding Officer dismissed I.A. No. 1461/2024. Even as per the impugned order, the outstanding due was Rs. 1,26,84,695/-. 4 Considering the rival submissions and perused the records.
