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Judgment
V. Kameswar Rao, J
CM No. 51109/2018 (for exemption)
Exemption allowed subject to all just exceptions.
Application stands disposed of.
CM No. 51109/2018 (for amendment of the writ petition)
This is an application filed by the petitioner seeking amendment in the writ petition. For the reasons stated in the application the same is allowed and
amended writ petition is taken on record.
Application stands disposed of.
W.P.(C) 7747/2018
Mr. Hashmat Nabi, learned counsel appearing for the respondent states he does not wish to file any reply to the amended writ petition and the
matter can be disposed of.
The issue which arises for our consideration is whether the Appellate Tribunal can insist upon pre-deposit of 50% of the amount of debt claimed
from the petitioner by the respondent Bank under Section 13(2) of the SARFAESI Act for entertaining the appeal.
Mr. Hashmat Nabi states that even after adjusting the sale proceeds, there is a shortfall of `2,40,99,109/- as on December 13, 2013. The petitioner
has to include the interest component on the said amount. He further submits that the 50% has paid on the amount so computed in terms of the above.
Mr. Amarjit Singh Bedi, learned counsel appearing for the petitioner states that the petitioner is not in a position to make the pre-deposit. If that be
so, in view of the decision of the Supreme Court in Narayan Chandra Ghosh vs. UCO Bank and Others reported as (2011) 4 SCC 54,8 wherein the
Court has held that the pre-deposit is a mandatory provision, no relief can be granted.
It is clear that the pre-deposit is a mandatory provision, which cannot be overlooked. In view of the fact that the petitioner is not in a position to
make the pre-deposit, we see no reason to entertain the writ petition, the same is dismissed.