GAURANGBHAI MANUBHAI DALAL Vs. AUTHORISED OFFICER

JUDGEMENT

(1.) Heard learned advocate Mr.Vishvas K. Shah for learned advocate Mr.Neha Lodha for the petitioner.

(2.) The challenge and the grievance in this petition is directed against order dated 09th January, 2018 passed by Debts Recovery Appellate Tribunal, Mumbai, in Miscellaneous Application No.14 of 2018 in Appeal No.04 of 2018. Thereby the prayer in the said Miscellaneous Application No.14 of 2018 for waiving the making of pre-deposit under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 came to be rejected by the Tribunal.

(3.) The petitioner is the guarantor who had taken loan from the respondent Bank. The Bank proceeded under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and took steps to put in auction the mortgaged property. The petitioner filed Securitisation Application No.158 of 2016 which was rejected by the Debts Recovery Tribunal-I, Ahmedabad on 30th December, 2017.