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Judgment
I.A. No. 1074/2026 (application for condonation of delay)
The instant application is filed for condonation of delay of 8 days in filing the present appeal although in the prayer clause it is mentioned that the appellants be exempted from filing the certified copy of the impugned order. The Counsel for the appellants stated that this is a typographical error but actually there is delay of 8 days in filing the present appeal. It is stated that the delay was caused due to the medical condition of the appellant no.1.
After considering all facts, the delay of 8 days in filing the present appeal stands condoned. The application is accordingly allowed.
I.A. No. 1028/2026 (application for waiver of pre-deposit)
The instant application is filed for seeking exemption from depositing the mandatory pre-deposit. It is stated in the application that the appellants are victim of well planned fraud and criminal conspiracy perpetuated by respondents no.2 and 3 in connivance with the officials of respondent no.1. It is strongly pleaded that the mortgaged documents and the signature appearing thereupon are forged and fabricated. The appellants have never availed any loan facility from the respondent no.1 and also did not create any mortgage in favour of respondent no.1 in respect of the subject property. The appellants have also obtained the opinion of Handwriting and Finger Print Expert who opined that the disputed signatures appearing on the loan documents were not of the appellants. In these circumstances, the appellants stated they shall be exempted from making pre-deposit of 50% of the as per Section 18(1) of the SARFAESI Act, 2002.
Ms. Pallavi Vahut, Counsel for the appellants argued that the appellants have never availed any loan facility from respondent no.1 and all the documents as relied upon by the respondent no.1 are forged and fabricated documents.
The issues as stated herein above are required to be considered by the Tribunal and at this stage it cannot be opined by this Tribunal that the alleged loan documents were forged and fabricated and not having the genuine signatures of the appellants.
The perusal of notice under Section 13(2) of the Act, dated 14.10.2025 reflects that an amount of Rs.1,89,72,000/- is outstanding against the appellants. The appellants cannot be exempted from making the pre-deposit as per Section 18(1) of the SARFAESI Act, 2002.
After considering all facts, the appellants are directed to make 30% of the said amount as pre-deposit in view of Section 18(1) of SARFAESI Act.
Ms. Pallavi Vahut, Counsel for the appellants stated that as per the instruction given by the appellants, the appellants are not ready to make pre-deposit of 30% as ordered. Accordingly, the appeal is dismissed for want of making pre-deposit. However, liberty is granted to the appellants to revive the appeal as and when the appellants make the pre-deposit in terms of this order within four weeks from today.