In Misc. Appeal Dy. No. 648/2023 Dated: 18.07.2025 The matter is taken up for hearing by way of a Praecipe filed by the Petitioners/Appellants for seeking urgent relief. This Application is filed seeking waiver of statutory deposit required under Section 18(1) of the SARFAESI Act, 2002 , for entertaining the Appeal.

Learned Counsel for Petitioners/Appellants submitted that the Petitioners/Appellant availed loan of Rs.40 Lakhs towards housing loan facility. When they were regularly paying the Equated Monthly Instalments (EMIs), due to close of thier business, there was failure in paying EMIs regularly. However, there is no date of classification of loan account as NPA was given in the Demand Notice. No break up details of amount due such as principal and interest is given. When Respondent Bank tried to take possession by obtaining order from Learned Civil Judge, Senior Division & ACJM, Nagpur, on 18.07.2022, on proceeding under Section 14 of the SARFAESI Act, 2002 , they filed S.A. No. 301/2022 challenging the orders passed under Section 14 of the SARFAESI Act, 2002 . They also filed I.A. No. 817/2023 seeking stay of proceedings. Since I.A. was dismissed, this Appeal is filed along w