BHAGIRATHI Vs. AUTHORIZED OFFICER SECURED CREDITOR PUNJAB NATIONAL BANK KESARGANJ BRANCH DISTRICT MEERUT

JUDGEMENT

(1.) PROCEEDINGS under Sarfaesi Act 2002 has been initiated under Section 13(2) of the Act requiring petitioner to pay Bank dues and demand was also raised. Petitioners filed their objection and thereafter proceedings for auction sale of the secured asset was initiated. Petitioner thereafter filed application under Section 17(1) of Sarfaesi Act 2002 before Debt Recovery Tribunal Lucknow. Said application was dismissed on 29.04.2008. Against the said order petitioner filed Appeal on 27.05.2008. In the said Appeal on 16.06.2008 certain defects were pointed out and the petitioners were ordered to remove the defects by 30.06.2008. No one appeared on behalf of the petitioners on the date fixed and again dates were fixed on 14.07.2008, 28.07.2008 & 04.08.2008 and on 04.08.2008 as defects had not been removed then Registrar declined to register the case. On 26.08.2008 Appeal was filed against the order of Registrar and Debt Recovery Tribunal, Allahabad on 03.09.2008 accepted appeal subject to payment of cost. Applicants were given the last opportunity to remove the defects by 08.09.2008 and on the said date no one appeared and case was dismissed for want of prosecution. Thereafter application was moved for recalling of the said order. Thereafter on 24.09.2008, order was passed to get all the defects removed and for payment of court fees. On the said date defect were got removed and cost imposed was deposited and Appeal was restored.

(2.) ON 24.09.2008 appeal was taken up and appeal was directed to accepted subject to deposit of 25% of recovery amount minus future and pendetenlite interest as well as cost in two instalments with the Registrar of Appellate Tribunal. First instalment was to be paid within one month and second instalment was to be paid within next one month and thereafter case was fixed for showing compliance of the order on 27.11.2008. ON 27.11.2008 petitioners did not appear and next date was fixed for 19.01.2009. ON 19.01.2009 matter was adjourned for 23.01.2009. ON 23.01.2009 no one appeared and case was dismissed in default. Restoration application was thereafter filed on 16.03.2009 and on 17.03.2009 following order has been passed:

(3.) ON the matter matter being taken up today Sri Kushal Kant, Advocate informed the Court that his client is not at all in a position to make payment of 25% as directed by Debt Recovery Tribunal vide order dated 24.09.2008. ONce this is factual position, Appeal in question has been admitted, subject to deposit of 25% of the amount, and said term and condition has not at all been complied with then this Court cannot come to the rescue of the petitioners, as without pre-deposit appeal in question cannot be entertained. Consequently, writ petition as it has been framed and drawn is dismissed.