BECHU KURIAN THOMAS
V. Shareef, S/o. V. Ahammedkutty – Appellant
Versus
Authorised Officer, State Bank of India, Stressed Assets Management Branch – Respondent
JUDGMENT :
Petitioners challenge Ext.P11 and Ext.P17 orders issued by the Debt Recovery Tribunal and the Debts Recovery Appellate Tribunal, respectively.
2. The issue arises from an interim order in S.A.No.47/2019 before the Debts Recovery Tribunal-I Ernakulam. By Ext.P11 order dated 30/3/2022 in I.A.No.426 of 2022, the Tribunal granted an interim stay of confirmation of sale scheduled as per notice dated 7/3/2022, on condition that petitioners deposit an amount of Rs.3,55,00,000/- by 30/4/2022 as first instalment and another sum of Rs.3,55,00,000/- as second instalment by 27/5/2022. In the challenge preferred against the said interim order, the Debts Recovery Appellate Tribunal, Chennai, issued an order in AIR No.80/2022, by its proceedings dated 17/5/2022 in an application seeking waiver of the statutory deposit. The order directed the petitioners to deposit Rs.9,01,51,596/- in two equal instalments. This original petition assails the said proceedings dated 17/5/2022, which is produced as Ext.P17.
3. The learned Senior Counsel Sri. George Poonthottam, duly instructed by Adv. N. Sasi submitted that, it fails all comprehension as to how when an order directing a deposit of Rs.7,10,00,
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