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Judgment
Heard learned counsel for the appellant as well as learned counsel for bank and perused the records.
Instant appeal is preferred, against the order dated 29.04.2025 passed by the learned DRT-Visakhapatnam in S.A. No. 20 of 2019, by the appellant who is a bidder in the auction proceeding conducted by the bank on 30.01.2019.
Borrower preferred the S.A. 20 of 2019 challenging the securitization action initiated by the bank against the borrower including the e-auction sale notice on different grounds. Opposition was filed by the bank before the learned DRT stating that securitization action initiated by the bank was in accordance with law. In the meantime, appellant herein, who was bidder in the auction proceeding conducted on 30.01.2019, moved an I.A. No. 520 of 2022 for refund of 25% of the bid amount of the property. Bank submitted that bid is subject to confirmation of Central Office, but has not informed about the pending litigation before the DRT. Objection was filed by the bank. Learned DRT vide order dated 31.05.2022 kept the I.A. 520 of 2022, filed by the bidder, pending with the observation that the same will be decided at the time of final disposal of the S.A. 20 of 2019.
Subsequently, S.A. 20 of 2019 was dismissed by the learned DRT on 29.04.2025. No order on I.A. 520 of 2022 was passed by the learned DRT. Accordingly, appellant being aggrieved by the order preferred the instant appeal.
Learned counsel for the appellant would submit that I.A. 520 of 2022 was not disposed of, which is to be decided by the learned DRT at the final decision of the S.A. Order dated 31.05.2022 itself shows that I.A. 520 of 2022 was kept pending for decision at the time of final disposal of the S.A., but the same is not decided. Accordingly, grievance of the bidder is yet to be adjudicated as to whether he is entitled to refund of the bid about or not? In such circumstances, appeal is liable to be allowed and matter is liable to be remanded back to the learned DRT to decide the I.A. 520 of 2022 afresh.
ORDER
Appeal is allowed and remanded only to the extent that learned DRT should decide the I.A. 520 of 2022 afresh, which is pending in S.A. 20 of 2019, after affording opportunity of hearing to the parties in accordance with law. It is made clear that we are not entering into the merits of the decision of the S.A. 20 of 2019 passed by the learned DRT. Costs easy.
File be consigned to record room.
Copy of the judgement/Final Order be uploaded in the Tribunal’s website.