S.GANESH Vs. INDIAN BANK

JUDGEMENT

(1.) This Writ Petition has been filed by the Petitioner aggrieved by the impugned order dated 16.10.2019 by which the learned DRAT has reiterated the requirement of pre-deposit of Rs.13.75 lakhs by the Petitioner within a period of four weeks.

(2.) The learned counsel for the Petitioner/Auction Purchaser submitted that in view of the decision in Mardia Chemicals Limited v. Union of India ((2004) 4 SCC 311) and the decision of a Division Bench of this Court in Sree Jeya Soundharam Textile Mills Pvt. Ltd v. Canara Bank and others (C.R.P.(NPD) No.1492 of 2017, etc. decided on 11.4.2019) which has been followed by this Bench in the case of M/s.Ashok Wood Works and another v. Indian Overseas Bank (W.P.No .22981 of 2019 dated 30.9.2019), no pre-deposit was required to be made by the Petitioner, being neither the Borrower nor the Guarantor but, being a third party to the proceedings viz., the auction purchaser and therefore, the Interlocutory Application Application filed by the Petitioner before the DRAT does not require any pre-deposit, as per aforesaid judgments.

(3.) Despite the above decision of this court dated 11.4.2019 and the fact that the Petitioner had already deposited 50% of such amount viz., Rs.13.75 lakhs in scheduled time, by the impugned order dated 16.10.2019, the Petitioner was directed by the DRAT to deposit the remaining amount of Rs.13.75 lakhs. Though the order of the Division Bench dated 11.4.2019 has been referred in the impugned order itself, but without any discussion thereon, the learned Debt Recovery Appellate Tribunal has once again gone back to the outstanding amount of the Bank and insisted for pre-deposit of Rs.13.75 which is contrary to the decisions of the Division Bench of this Court.