Timely deposit under statutory requirements is essential for entertaining appeals related to property sales under SARFAESI Act.

In Misc.rApp^

Dated: 09:07.2025 'Hie inattcr' is taken-up for -hcaring by sway of a Praecipe i' fil&d by tlie-Peti'dbners/.Appeiiants’fbr^see'king urgent-relief. •faie’ Application is -filed seeking waiver of the statutory deposit.required urider Section 18(1) ofthe SARFAESl Actr-lOO^, 1 forentertainthe. Appeal.

Learned Counsellor Pctitioners/Appeliants submitted .that ;

■the .Petitioners/Appellahts filed. S.A. No. 48672025 challenging the measures taken, -in pursuance; of Sale Notice' /dated ,13.01.2025,;-sale, issuance, of^sale certificate,^symbolic possession notice dated- 27.10.2023: and order passed by Learned District MSgisti-ate :on ■2ii02i!2024. He also filed: :].A.r No. ,1557/2025 /seeking'Stay of'proceedings; ph rejection of aforesaid I.A., this Appeal is filed along, with .Waiver Application. It is his submission that the Pctitioners/Appeliants availed loan of Rs. 2 Crores.and. madeJsOme payinchts. Without giving 30 days’ clear notice, the i property was sold. As perthe’valuation report, obtained by -I*

i ' ■

Respondent Batiks the. value of property is' shown as RaS/T^SSipOO/- but the; property was sold for Rs.AiplJ^OOO/-. The Auction. Purchaser. is not, a bonafide purchaser 'but he is proxy of Mr. Vijay Mane, who is Petitioners/Appeliants! partner and he pldyed fraud on Petitibners/Appcliants. Therefore, the Petitibners/Appellahts^seek waiver;

Leanicd Counsel for the latRcsponderit Bank, submitted ;that Petitiohers/AppcUants .hayemdt made any effort to repay-the loan. When the mortgage was subsisting, the ^7'

■v Pctitibriefs/Appiiiikiits 'soldjaport ,ofthe'ftfopefty 10 briefc Vajay Wane' through, a1 Said: Deed •dated? O2;03i262.3?% playihg finudr ,..' i:

'ThU property hasriieen sold,^Me;CeTtificAte'has^eeririssued?^a possession copid hot be taken for want of ppHce|assistance. Similar .submissions were. ihadS; UH behaif 'd£ Ecamcd'

^G6i^sel;f6r;Audtidh Purchase as^wcll.

I .!Gdnsidpi^d^e;nyJ^'sti%im^ perused thc^ecSrSsn ■ . :-It is seen.' 'from' ;the..-Sale Npti&fe’ dated' i3?01220i25; ■Ute-

!

; -ahiount Hue' iff shown- as Rs.lf90^6,^V;98ji^-Sm:12’!0^.?2b25; the;. .resefye price’ for salc of ' property Was- fixed nt i fes4:;Oi;69iQD07-., THe prbptrt^was. sold, forh Rs^iOl^Opp/^

and ■theri’etiGonersyAppcllcmtS'havd ■chaIlcnged''thc-!Sale; Nptice, 5the-^iidU(aid«^fewa’is.suto^^T sme^itificate^there^

1’amqurit' .of sale price, i.e.. Rs.4,01,79,000/-. is' taken into. , rconsid^ationifdr/fre^^o'sit '

; IncviewnfthefaBt^

? tifivd party interest is: created^ thio Triburiai :is .Of, 'the, :.vie\V .

j /Hrctting the PeriGpriers/AppcUahts: hr deposit 4p%; -df :: would meet ithe.jeqin^eht Under 'Section. IB:

(irdf'SAOTAESl~A(^ 200M^ -

Ii ", ' - ■ i-

■ ■ Admittediy,, W<>; of" W ' ucomcs tft .

R6;i,6p.,•74,600-/-.

•Therefore, Petitioners/Appellahts shail, /deposit. .

.Xs;l;6pj71,600/- In, ietpid* At -this juncture;. Reamed. GdUnsel for' IPetitioners/Appellahls isubrfiiteVtbat the possession'lshschedule^ tpmbrrdw he.^ iO107v2O25. Ih .thatcasC, _........

this Tribunal .directs/ that the, I*:iifstaliiierit‘jof Rs.- SP;3.5i8pp/- to ,bd .paid.dri :Oif Before: 12- noon By' fphiprfdW iiie.,;"a0.O.7:2O?25 ’4hd •s >1^

> instalment: of.Rs.80;35-;800/-S8han! be deposited.on.or before ; ^d8i2d25;

? •if. Petitioners/AppeUants deposit ;Rs.80,35,860/- on. or before. 12 noon by ■tomorrow ilei, 10.07:2025, taking of .possession -shall' be deferred till-'next heating'date.

i jf Petitioners/Appellaiits fail to deposit Rs. SOiSS.aoO/i on'

or 'before 12 noon by .tomorrow i.e., ;10.d7r2b25, the: iB‘

i Respondent .Bank is: at liberty to. proceed, further' in accordance ■

withlaw.

It is made cleaf that dh failure' to .deposit of cither of the-

instalments, the Appeal shall-stand rejected. On .making; such.

' ■ .deposit by^Pctitioners/.Appellants, ’Registraf, DRAT,; Mumbai is' to; : ( invest the: same In. a Nationalized "Bank; from time to time, tUl : further; orders are passed: