KARAN KUMAR KALRA Vs. STATE BANK OF PATIALA

JUDGEMENT

(1.) THE instant application has been filed by the appellants for modification/recall of the order dated 28.12.2011 whereby the appellants were directed to deposit 25% of the amount shown by the respondent Bank as outstanding in the possession notice dated 11.11.2011 for the entertainment of appeal. The facts giving rise to this application, in brief, are that the applicants have filed an appeal against the order dated 8.12.2011 of the PO of DRT -II. Chandigarh passed in S.A. No. 329/2011, whereby the interim relief sought by the applicants/appellants was declined. Along with the appeal memo, the appellants had filed an application (I.A. No. 846/2011) for wavier of pre -deposit as required under the second proviso to Section 18(1) of the SARFAESI Act for the entertainment of the appeal. The said application was disposed of by this Tribunal vide order dated 28.12.2011 and the appellant/applicants were directed to deposit 25% of Rs. 2.22,31,439.01. the amount shown as outstanding in the possession notice dated 11.11.2011.

(2.) THE appellants thereafter filed an application (I.A. 36/2011) on 10.1.2012 for directing the Bank to file complete statement of accounts and also for modification/correction of the figure of Rs. 2,22,31,439.01 with Rs. 2,17,67,694.30 and also for adjustment of the payments received by the Bank The said application was later not pressed by the appellants, who filed the instant application and the said 1A was accordingly dismissed on 6.2.2012.

(3.) MR . Sanjeev Bhandari, learned Counsel for the appellant/applicants and Mr. S.N. Relan, learned Counsel for the respondent - Bank, were heard on this application.