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Judgment
Ashok Menon, Chairperson
The matter is taken up for hearing by way of a praecipe filed on 19.12.2023 by the Appellants seeking urgent relief.
The Appellants have come up with an appeal impugning the judgment and order dated 06.11.2023 dismissing the Securitisation Application (S.A.) No. 171 of 2022 on the files of the Debts Recovery Tribunal, Aurangabad (D.R.T.). The Appellants have also filed an application for waiver of deposit under Sec. 18(1) of the Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 002 (‘SARFAESI Act’, for short).
Respondents Nos. 2 and 39 have appeared. The Respondents Nos. 3 to 38 are also the persons aggrieved by the Securitisation measures, and therefore, not likely to oppose the application and the appeal.
The first Respondent bank has, however, not appeared. The apprehension of the Appellants is that the auction purchaser Respondent No.39 who has purchased the property is likely to create third-party interest before the application for deposit is heard.
The Ld. Counsel appearing for Respondent No. 39, the auction purchaser, on instruction undertakes that no third-party interest over the property purchased by him. Under the circumstances, there is no urgency to hear the application for a waiver of deposit.
Replies may be filed on the application for waiver of deposit. List on 31.01.2024 for hearing.