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Judgment
ORDER
Learned counsel for both the parties are present. This appeal is filed against the interim order dated 30.04.2025 passed by the learned Presiding Officer, DRT, Coimbatore in IA 2201/2025 in SA 458/2025.
By the said order, the Learned Presiding Officer, DRT, Coimbatore, on the submission made by the learned counsel appearing for the petitioners before the Tribunal that a sum of Rs.1 crore would be deposited towards the loan account to avoid dispossession, directed the appellants to pay a sum of Rs.50 lakhs on or before 13.5.2025 and another sum of Rs.50,00,000/-on or before 31.5.2025. Thus, directed the respondent-Bank to defer assuming physical possession. Against this order, this appeal is filed.
SA 458/2025 was filed for quashing the order dated 19.03.2025 passed by the learned Chief Judicial Magistrate, Salem in Crl.M.P.No. 14/2025 and for other relief. The conditional order passed by the Learned Presiding Officer, DRT, Coimbatore is not complied with. The main SA is still pending. Therefore, this Tribunal modifies the order of the Learned Presiding Officer, DRT, Coimbatore and direct the petitioners to pay a sum of Rs.50 lakhs to the respondent-bank within a period of three weeks from today. On such payment, the Learned Presiding Officer, DRT, Coimbatore may consider grant of stay or not. Accordingly, this appeal is disposed of. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.