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2022 Supreme(MP) 80

VIVEK RUSIA, AMAR NATH (KESHARWANI)
Vishal Jaiswal – Appellant
Versus
Naresh Soni – Respondent


Advocates:
Akash Rathi for petitioners; Vivek Phadke for respondents No. 1 to 4;
Kshitij Vyas for respondent No. 5.

ORDER

Rusia, J : As the identical issues are involved in all the aforesaid writ petitions, therefore, they are being decided by this common order. For the sake of convenience, facts narrated in W.P. No.5494/2021 are being taken into consideration.

The petitioner has filed the present petition being aggrieved by the order dated 9.2.2021 passed by Debt Recovery Appellate Tribunal (DRAT), Allahabad in Appeal No.344/2020 whereby the objection in respect of deposit of 50% of the debt due before entertaining the appeal on merit has been rejected.

The facts of the case, in short, are as under :

1. Respondents No.1 to 4 (hereinafter referred to as “the borrowers” for short) took financial assistance by way of a home loan to the tune of 1,50,00,000/- from respondent No.5 – Bank of Baroda (hereinafter referred to as “the bank” for short). In order to secure the loan, the borrowers had mortgaged their property situated at Survey No. 542/2/2/1, Patwari Halka No.18, Junior Dewas, District Dewas. Upon committing the default of returning the loan amount, the bank issued a demand notice dated 3.8.2019 under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of

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