Gutha Amith Kumar v. Bank of Baroda
Case brief
What is this about?
The Tribunal allowed the applicant's application to recover 25% of the bid amount deposited in an auction conducted by the respondent bank under the SARFAESI Act.
What did the court decide?
Refund of Rs.1,37,75,000/- along with interest @ 7% p.a. and costs of Rs.50,000/-.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD
DATED THIS THE 3OTH DAY OF JUNE. 2C26
PRESENT: GUMMADI GOPICHAND, PRESIDING OFFICER
sA.No.29A/2c24
Gutha Amith Kumar S/o. Sri G. Sukhender Reddy Aged about 44 years, Male, No.8-2-293 I 82 I JItIl 1 s8, Road No.73, Plot no.158, Jubilee Hills, VTC Shaikpet, - Hyderabad-5OOO33.
Applicant
Versus
Bank of Baroda Stressed Assets Management Branch JBAS Building, 4ft Floor, No.45, Moore Street, Chennai-600001 Rep by its Authorized Officer. Respondent Counsel for the Applicant Sn B. Sreeniuas Reddy Counsel for Respondent Si V.Y.S.Ir. Raju Reserued on 08.o5.2026 Pronounced on 30.06.2026 Uptoaded to the Website on 30.06.2026
.:ORDER:.
- The Applicant filed the present Securitization Application under section 17 of the SA,RFAESI Act, to direct the Respondent Bank to refund the amount of Rs.l,37,75,oool-, deposited by the Applicant towards 25%o bid amount in pursuance of the auction of the application
Issues for consideration
2 issues framed by the court
Whether the applicant is entitled to a refund of 25% of the bid amount deposited due to undisclosed encumbrances on the auctioned property.
Whether the "as is where is" and "as is what is" clause exempts the secured creditor from the duty to disclose known encumbrances and statutory dues before the auction.
Parties & counsel
- applicant
Gutha Amith Kumar
- respondent
Bank of Baroda Stressed Assets Management Branch
Coram
GUMMADI GOPICHAND
Case details
As recorded by the court registry
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