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Judgment
-: Order dated: 27/04/2026: -
Present as above.
Heard and perused the record.
The vide order dated 12.01.2026, the Learned Predecessor directed as stated hereunder;
“……this Tribunal directs the Petitioners/Appellants to make the pre-deposit of 30% of ₹43,20,96, 157.06p to meet the requirement under section 18 (1) of the SARFAESI Act, 2002, to entertain this Appeal. Admittedly, 30% of ₹43,20,96, 157.06p comes ₹12,96,28,847.11p (Rounded off ₹12,96,28,847) Therefore, Petitioners/Appellants shall deposit ₹12,96,28,847/- in two instalments, 1 instalment of ₹6,48,14,423.50p shall be deposited on or before 02.02.2026 and 2 instalment of ₹6,48,14,423.50p shall be deposited on or before 23.02.2026. It is made clear that on failure to deposit of either of the installments, the Appeal will be rejected”.
Aggrieved by this order, the Appellant filed Writ Petition No. 1462/2026 before the Hon’ble High Court of Bombay and the Hon’ble High Court observed as under;
“10.It is made clear that the DRAT shall entertain such an application, only upon the Petitioners showing proof of having deposited the first installment of the pre-deposit stipulated in the order dated 12 January 2026, as per the timeline indicated therein i.e. by 02.02.2026 and further depositing the amount of Rs. 57,16,50,076/- with the Petitioners-Bank. It is only if these conditions are satisfied that the DRAT will consider the proposed application to be filed by the Petitioners. It is clarified that in terms of the subsequent order dated 22 January 2026, the interim order is already vacated and that continues to be the position.”
Aggrieved by the order dated 30.01.2026 passed by the Hon’ble High Court of Bombay in Writ Petition No. 1462/2026, the Appellant preferred Special Leave to Appeal (C) No. 9017/2026 before the Hon’ble Supreme Court of India. However, the same was dismissed and the Hon’ble Supreme Court of India observed as hereunder;
“1.We see no reason to interfere with the impugned order of the High Court; hence, the special leave petition is dismissed.
2.However, the time to put in the requisite deposits in terms of the order of the High Court is extended by two weeks from date; only, after making such deposits, the petitioner shall be at liberty to apply for a modification in terms of the liberty that has been granted.”
The Learned Counsel for the Appellant would submit that the Appellant could not comply with the directions contained in the order dated 12.01.2026 passed by the Learned Predecessor. He would further submit that in view of the order dated 30.01.2026 passed by the Hon’ble High Court of Bombay in Writ Petition No. 1462/2026, the Appellant could not make the deposit and therefore, nothing survives in this Appeal.
The Learned Counsel for Respondents would submit that as per the order dated 12.01.2026, passed by the Learned Predecessor it was made clear that upon failure to deposit either of the instalments, the Appeal would stand rejected.
In view of the fact that no deposit has been made by the Appellant. Therefore, the Regular Appeal Diary No. 2054/2025 is hereby dismissed.
All pending I.As., if any stand dismissed.