Reportable

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 2681 OF 2011

[Arising out of S.L.P. (C) No. 5488 of 2011]

Narayan Chandra Ghosh

—

Appellant (s)

VERSUS

UCO Bank & Ors.

—

Respondent (s)

O R D E R

1.

Leave granted.

2.

This appeal by the borrower is directed against judgment dated 7^th

December, 2010 delivered by the High Court of Calcutta in C.O.

No.3608 of 2009. By the impugned judgment, the High Court has set

aside the order passed by the Debts Recovery Appellate Tribunal,

Kolkata (for short, “the Appellate Tribunal”) in Appeal No.35 of

2009, whereby the Appellate Tribunal, while allowing the application

filed by the appellant under Section 18(1) of the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002 (for short, “the Act”) had exempted the appellant

from making any deposit in terms of second proviso to Section 18 of

the Act before entertaining the appeal against the order passed by the

Debts Recovery Tribunal.

3.

With the consent of learned counsel for the appellant as also the

respondent-bank, which is on caveat, we have heard the matter finally

at the motion he