Smt Kirti Rohan Gupta v. Punjab National Bank
Case brief
What is this about?
The Tribunal issued directions in an interim appeal challenging asset sale under SARFAESI Act. It directed the appellants to deposit ₹22 lakhs toward a total sum of ₹44,07,470.14 claimed by the bank to entertain the appeal.
What the court decided
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson I.A. No. 40/2025 (WoD) In
Misc. Appeal on Diary No. 30/2025
Kirti Gupta & Ors. V/s.
Between
Punjab National Bank …Respondent/s
Mr. Radhe Agrawal, Advocate for Appellants.
Ms. Sonia Redkar, Advocate for Respondent Bank.
The matter is taken up for hearing by way of a praecipe filed by the appellants for seeking urgent relief.
The appellants are in appeal challenging the sale of the secured assets. To entertain the appeal the appellant will first have to comply with the mandatory requisite of making the pre-deposit u/s 18 (1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002 ( “SARFAESI Act” for short). The sale has already taken place and the counsel appearing for the respondent bank submits that the auction purchaser has deposited the entire sale amount and the sale has been confirmed.
- The Ld. Counsel appearing for the appellants disputes this fact and the appellants are directed to make a pre-deposit based on the amount claimed as per the sale notice a sum of ₹44,07,470.14. The appellants are to deposit a sum of ₹22 lakhs toward the pre-deposit
Issues for consideration
1 issue framed by the court
Whether the appellants are directed to make a pre-deposit to entertain the appeal challenging the sale of secured assets under the SARFAESI Act.
Parties & counsel
- appellant
Kirti Gupta & Ors.
- respondent
Punjab National Bank
Coram
Ashok Menon
Case details
As recorded by the court registry
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