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Judgment
R. D. Khare, Chairperson
It has been contended by the learned counsel for the appellant that as per the demand notice dated 01.11.2019, the amount due against the appellant was Rs. 24,76,057.95 along with interest and the property has been sold by the respondent-Bank for a sum of Rs. 85.00 lacs, therefore, no amount is required to be deposited towards pre-deposit. As such the waiver application may be allowed.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 24.11.2022 passed by the DRT, Allahabad in S.A. No. 312/2020. The report of the Registrar dated 12.12.2022 shows that the I.A. No. 673/2022 being urgency application and I.A. No. 674/2022 being waiver application have been filed.
As the matter has been taken up today, therefore the urgency application being IA No. 673/2022 is disposed off as such.
Since more than the demanded amount has been recovered by the respondent-Bank from auction sale of the property in question, therefore, no further amount is required to be deposited by the appellant for maintaining the appeal. Accordingly, the waiver application is allowed.
Learned counsel for the appellant further contends that partial possession of the property in question has been taken over by the Bank and the appellant is in possession of the open area of the said property. Learned counsel prays that a direction be issued to the Tribunal below to consider and decide the S.A. No. 312/2020 within the time as stipulated by this Tribunal and in the meantime, the interest of the appellant may be protected.
After hearing the learned counsels for the parties, the present appeal is finally disposed off with direction to the Presiding Officer, DRT, Allahabad for considering and deciding the S.A. No. 312/2020 in accordance with law, most expeditiously, preferably within two months from the date of production of certified copy of this order and till that time, the parties are directed to maintain the status quo qua the property in question, as it exists today. It is made clear that the parties shall not seek adjournment unnecessarily.