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BEFORE THE DEBTS RECOVERY

APPELLATE TRIBUNAL, AT: MUMBAI

Present: Justice Vivek Bharti Sharma, Chairperson

I.A. No. 122/2026 (WoD)

In

Misc. Appeal Dy. No. 275/2026

Between

M/s. Himanshu Engineering & Ors. … Appellant/s

V/s.

The Authorised Officer, …Respondent/s

Canara Bank & Ors.

Mr. Gaurang Kinkhabwala, i/b Mr. Dhrumit Chauan, Advocate for

Appellants.

Mr. Charles D’souza, i/b Ms. Vaishali Bhilare, along with Mr. Somesh

Talla, Advocate for Respondent Bank.

Mr. Sunil Humbre, Advocate for Respondent No. 2 to 5

-: Order dated: 27/02/2026:

The matter is taken up for hearing by way of praecipe filed by the

appellant seeking urgent relief-

2. The Learned Counsel Appellants would submit in support of his

waiver application, in previous Misc. Appeal Dy No. 1413/2025, the

Learned predecessor Chairperson had directed to deposit 40% of the

statutory amount as pre-deposit, which the Appellants have deposited

in the Misc. Appeal Dy No. 1413/2025; that, this pre-deposit of 40%

in this stage, the amount lying with this Appellate Tribunal; that, S.A.

No. 171/2025 has been finally decided by the DRT-I, Ahmedabad.

2. Learned Counsel for the Appellants would submit that 40% of

the statutory amount still lying with the Appellate Tribunal, the waiver

application should be allowed by adjusting that 40% by considering

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that amount to be pre-deposit.

3. Learned Counsel for Respondents would oppose the same on

the ground that the Appellants have repeatedly filed the Appeal, and

this S.A. has been rejected. Therefore, Appellants are not entitled to

any waiver whatsoever.

4. In view of the submission above, the waiver application is not

allowed. The Appellants are directed to deposit the complete of the

50% of the statutory amount. The amount already deposited in Misc.

Appeal Dy. No. 1413/2025 shall be adjusted in the same.

5. At the request of the Learned Counsel for Appellants, the

balance amount after adjusting the prior amount previously deposited

in Misc. Appeal Dy No. 1413/2025 be deposited within 10 days from

today.

6. Learned Counsel Appellants would submit that as the waiver

application has been dismissed and the case is posted for filing the

reply objection to the interim application for staying the possession,

which is scheduled on 01.03.2026, the Respondent be restrained from

taking any further action in pursuance of that possession notice.

7. The Learned Counsel for Respondent has vehemently opposed

this submission on the ground that the Appellants are not entitled to

any interim relief on his I.A. itself and before DRT-I, Ahmedabad, the

Appellants had also given Undertaking cum Affidavit Annexure-C to

the Appeal in which the Appellants have admitted his due toward the

Respondent Bank in Para-2 and undertook to pay the due in five

instalments as stated in the Para-2. Therefore, the Appellants are not

entitled to any relief whatsoever at this stage without hearing the

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interim application on the merits.

8. Learned Counsel Appellants would submit that the Appellants

had not admitted these liabilities as submitted by the Respondents

specifically stated that this amount been deposited without prejudice

to the right and contentions of the Appellants. The Appellants had

already deposited 40% of the statutory pre-deposit in the previous

Misc. Appeal Dy No. 1413/2025. In view of the deposited amount in

earlier Misc. Appeal, the Appellants are directed to deposit the

remaining balance amount after adjusting the 40% of the pre-deposit

amount, which is ₹26,25,885/- on or before 10.03.2026.

9. The Respondent Bank is directed not to take possession till the

next date of hearing.

10. As and when the said amounts are deposited, they shall be

invested in term deposits in the name of Registrar, DRAT, Mumbai,

with any nationalised bank, initially for 13 months, and thereafter to

be renewed periodically.

11. List the case on 11.03.2026 for reporting compliance.

Sd/-

Chairperson

psa-03

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