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Judgment
ORDER
Learned Counsel for both sides are present.
This appeal is filed against interim order dated 28.11.2025 passed by Learned Presiding Officer, DRT-III, Chennai in IA No. 2750 of 2025 in SA No. 801 of 2025 whereby the Learned Presiding Officer, DRT-III, Chennai directed the Petitioner to make a payment of Rs.10.00 lakhs to stay further proceedings in pursuance of the order passed under Section 14 of the SARFAESI Act, 2002. Without paying this amount, aggrieved against this order, this appeal is filed. SA No.801 of 2025, filed for setting aside the order under Section 14 of the SARFAESI Act, 2002 dated 16.9.2025 of the Learned Chief Judicial Magistrate, Chengalpattu in C.M.P.No. 2520 of 2025, is still pending.
In the said circumstances, this Tribunal is of the view that the order passed by the Learned Presiding Officer, DRT-III, Chennai can be modified to the effect that instead of paying Rs.10.00 lakhs, Petitioner is directed to pay Rs.5.00 lakhs to the Bank within a period of 4 weeks from today. If such a payment is made, Learned Presiding Officer, DRT-III, Chennai is directed to consider the stay application on merits and in accordance with law.
Accordingly, MA (SA) 40 of 2026 is disposed.
Parties are directed to bear their own costs.
Pending IAs, if any, stand closed.