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IN THE HIGH COURT OF DELHI AT NEW DELHI
VIVEK CHAUDHARY, RENU BHATNAGAR
Renu Goyal – Appellant
Versus
Edelweiss Asset Reconstruction Company Ltd. – Respondent
JUDGMENT :
RENU BHATNAGAR, J.
1. The present writ petition has been instituted under Article 226 of Constitution of India by the petitioner seeking quashing of the impugned order dated 25.03.2025 passed by the Debts Recovery Appellate Tribunal, Delhi (hereinafter 'DRAT') in M.A. No. 60/2025 in Appeal No. 63/2024, whereby the petitioner's appeal arising out of S.A. No. 51/2020 was dismissed solely on the ground of non-compliance with the pre-deposit requirement under Section 18 of SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT , 2002 (hereinafter 'SARFAESI Act').
2. The petitioner claims to be the absolute and lawful owner of property bearing no. I-1612, Chittaranjan Park, New Delhi (hereinafter 'subject property'), having acquired the same by virtue of a registered Sale Deed dated 30.03.2007. The petitioner asserts that she is a homemaker and has no independent source of income or financial resources apart from the subject property.
3. It is the case of the petitioner that respondent No. 2, namely M/s Worlds Window Impex India Pvt. Ltd., allegedly availed certain credit facilities from respondent No. 4, ECL Finance Ltd. The petitioner s
Pre-deposit under Section 18 of the SARFAESI Act is a mandatory requirement for maintaining an appeal before the Appellate Tribunal, and it cannot be completely waived even in the face of financial h....
Point of law: High Court has no jurisdiction to entertain writ petitions under Article 226 of the Constitution of India, relating to matters coming under the purview of SARFAESI Act, 2002, where a st....
A writ petition under Article 226 is not maintainable when an effective statutory remedy exists under the Securitisation Act, especially in recovery related matters.
Non-borrowers cannot be subjected to pre-deposit requirements under Section 18 of the SARFAESI Act, confirming strict adherence to statutory definitions.
The main legal point established in the judgment is that the provision relating to pre-deposit under Section 18 of the SARFAESI Act applies to both interlocutory and main application orders, and ther....
The statutory remedy of appeal under the SARFAESI Act can be invoked only upon making a certain pre-deposit, as per the clear language of Section 18, and the High Court cannot give directions contrar....
The obligation to make a pre-deposit under the SARFAESI Act is strictly on the borrower, and amounts paid by others cannot be appropriated towards this requirement unless the borrower accepts the sal....
Appeal – Requirement of statutory pre-deposit – In a case where borrower challenges auction sale, thereafter it will not be open for borrower to pray to use sale proceeds received from sale of secure....
The court ruled on the interpretation of pre-deposit requirements for co-sharers under the SARFAESI Act, determining that the issue of limitation warrants fresh consideration by the Debts Recovery Tr....
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