RITESH OIL MILLS PVT. LTD Vs. DENA BANK

JUDGEMENT

(1.) THE challenge under the present Appeal under Section 20 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short the RDDBFI Act) is the judgment and order dated 29th March, 2010 passed by Mr. V.N. Lothey Patil, the then learned Presiding Officer (learned P.O.), Debts Recovery Tribunal (DRT) No. 1, Ahmedabad, in Appeal No. 14/2009, Ritesh Oil Mills Pvt. Ltd. v. Dena Bank, whereby the learned P.O. has dismissed the aforesaid Appeal filed by the appellants against order dated 22nd September, 2009 passed by the Recovery Officer (R.O.) in Recovery Proceeding (R.P.) No. 1304/2002, arising out of the Original Application (O.A.) No. 319/1998 whereby the learned R.O. has passed the following order:

(2.) SUCCESSFUL auction purchaser is hereby directed to deposit the balance amount of 25% on or before 23rd September, 2009 by Demand Draft/Pay Order in favour of the Recovery Officer, DRT -1, Ahmedabad.

(3.) FURTHER , the successful purchaser is directed to deposit the Poundage Fee (1% of the bid amount plus Rs. 10) as per Sub -rule (1) of the Income -tax (Certificate Proceedings) Rules, 1962, Appendix 28 in favour of the Registrar, Debts Recovery Tribunal, Ahmedabad.