JAYADEV PRADHAN Vs. COLLECTOR-CUM-DISTRICT MAGISTRATE, KHURDA

JUDGEMENT

(1.) The petitioner has invoked Articles 226 and 227 of the Constitution for modification of the order dated 19.08.2015 of the Debt Recovery Tribunal, Odisha in S.A. No.28 of 2015 so as to allow him to pay the amount of Rs.1.00 Crore as directed in the impugned order within a period of 30 days.

(2.) The impugned order dated 21.08.2015 is an interim order. The previous order dated 19.08.2015 of the Tribunal was directing the petitioner to deposit the sum of Rs.1.00 Crore on 21.08.2015 by 12 O' Clock and directing the opposite party-Bank not to take any further steps so as to maintain status quo. It was made clear in that order dated 19.08.2015 that if the petitioner would fail to deposit the money on 21.08.2015, the Bank would be at liberty to proceed with the matter. Subsequent to that, as recorded in the impugned order dated 21.08.2015, the petitioner admitted that he could not pay any amount to the Bank in terms of the order of the Tribunal. However, learned counsel for the petitioner submitted before the Tribunal that he will deposit Rs.2.00 Crore by 31.08.2015. The Tribunal has noted in the impugned order that the petitioner was making promises right from the beginning before the High Court and the Tribunal and every time defaulting in making payment. Therefore, the interim order dated 19.08.2015 was withdrawn and the Bank was permitted to complete the process of sale and the matter was posted for hearing by the Tribunal on 16.10.2015.

(3.) Challenging such order of the Tribunal, the petitioner has approached this Court on 27.08.2015 and made an oral offer of depositing with the Bank substantial amount so as to prevent completion of the process of sale. In view of the offers made by the petitioner, initial order dated 27.08.2015 was made in the following terms: