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Judgment
P.K. Bhasin, J
I.A. Nos. 320 and 321/2018 and I.A. No. 917/2017
Today, another application seeking waiver of the condition of pre-deposit of 50% of the amount of debt in question has been filed. Counsel for the appellants says that they are not in a financial position to comply with the requirement of pre-deposit of 50% of the amount of debt in question though they could manage to make pre-deposit of only 25%, which is the minimum amount of deposit beyond which this Tribunal cannot go. The appellants are claiming to have entered into some kind of deal with the private buyer of their property which is the subject matter of this litigation. It is being contended that the prospective buyer has helped the appellants by funding them a sum of Rs. 47,55,802 towards the part sale consideration agreed to be paid by it to the appellants under the agreement to sell but balance they are claiming that they will pay only once there is a stay against the Bank taking over physical possession of the property in question. In my view, appellants are entering into speculative litigation and, therefore, they are not entitled for the relief of waiver of pre-deposit. This application is dismissed.
The appellants' alternative prayer for directing them to make the balance 25% but subject to their making a deposit of 25% they may be given interim relief is also rejected for the aforesaid reason that they are only entering into speculative deal with third parties.
This application is dismissed accordingly. Consequently, the appeal itself is also rejected as not entertainable. The amount already deposited by the appellants on account of 25% of pre-deposit can now be refunded to them, as requested.
Record fit the DRT be sent back.