SUNIL PRABHUDAS PATEL Vs. RBL BANK LTD.

JUDGEMENT

(1.) Heard learned Senior Advocate Mr. R.S. Sanjanwala with learned Advocate Mr. Sandip C. Bhatt on behalf of the petitioners and learned Advocate Mr. P.R. Abichandani for learned Advocate Mr. C.R. Abichandani with learned Advocate Mr. Gupta on behalf of the respondent- Bank.

(2.) By way of this petitioners, the petitioners inter alia challenge an order dtd. 19/7/2023 passed by the learned DRAT, Mumbai in IA at Diary No. 629 of 2023 in Appeal No. 41 of 2023 more particularly whereby modification had been sought for as regards order dtd. 3/4/2021 in IA No. 206 of 2023 preferred by the petitioners herein i.e. the borrowers.

(3.) It is the submission on behalf of the petitioners that while the petitioners had challenged the measure initiated under the SARFAESI Act more particularly with regard to non repayment of financial assistance availed by the petitioners from the respondent Bank, initiated by issuing notice under Sec. 13(2) of the SARFAESI Act on 7/9/2022 which notice stated about 8 different properties as mentioned in the schedule and whereas it is further submitted that while the learned DRT vide order dtd. 3/4/2023, inter alia while directing the present petitioners to pay the pre - deposit as stated in the order i.e an amount at Rs.3.00 crores in three installments of Rs.1.00 Crore each and whereas the first installment was to be payable within three weeks on or before 24/4/2023 and whereas on payment of the first installment, the appellants i.e petitioners herein were entitled to stay of further SARFAESI measures intended to be taken by the said respondent.