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Judgment
R. D. Khare, Chairperson
Heard the learned counsel for the appellant.
Learned counsel for the appellant submits that the total dues against the appellant is about Rs. 55.00 lacs, but the Tribunal below vide order impugned has directed the S.A. applicants to deposit Rs. 1.00 lac within two days and the remaining amount in installments as indicated in the said order. It is further argued that against the outstanding dues, the amount, which is directed to be deposited by the borrowers, is a very meager amount. In this regard, the learned counsel has referred to section 27 of the RDB Act. 1993. Learned counsel for the appellant also submits that the securitization application pending before the Tribunal below is fixed tomorrow i.e. 03.03.2023 for hearing, therefore, the appeal may be taken up today on mention.
In view of the above, the case has been taken up today.
After hearing the learned counsel for the appellant, there is no doubt that the Tribunal below shall abide by the provision of SARFAESI Act, 2002 and section 27 of the RDB Act, 1993 while passing further orders in the pending S.A. Accordingly, the appeal stands disposed off.