Kartik Chandra Parija v. Kotak Mahindra Bank Ltd. , Bangalore
2017-08-21
P.S.DINESH KUMAR, SUBHRO KAMAL MUKHERJEE
body2017
DigiLaw.ai
JUDGMENT : 1. These writ petitions are filed, challenging the order dated June 8, 2017, passed by the Debt Recovery Appellate Tribunal, Chennai. 2. The appellate tribunal, by the order impugned, inter alia, directed the writ petitioners-appellants to make pre-deposit of Rs. 70.00 lakh [Rupees seventy lakh] only with the registry of the tribunal, as a condition precedent for admission of the appeal filed by the writ petitioners. 3. We have entertained these writ petitions and directed the writ petitioners to deposit Rs. 35.00 lakh [Rupees thirty-five lakh] only with the bank. 4. Mr. Shyam Prasad B M, learned senior advocate, appearing for the first respondent-bank, submits that the writ petitioners had, already, deposited Rs. 35.00 lakh [Rupees thirty-five lakh] only. 5. We feel, justice will be sub-served if we disposed of these writ petitions with a request to the Debt Recovery Appellate Tribunal, Chennai to dispose of the appeal, as expeditiously as possible, without insisting upon the deposit of the balance amount of Rs. 35.00 lakh [Rupees thirty-five lakh] only. 6. We are informed that the respondent-bank has taken the possession of one out of three premises belonging to the writ petitioners. 7. Mr. Shyam Prasad B M, learned senior advocate, appearing for the first respondent submits, on instructions, that the said property has not been conveyed to any third party. 8. We, therefore, direct the parties to maintain status quo, as of today, in respect of all the three properties in question, during the pendency of the appeal before the appellate tribunal. 9. Writ petitions stand disposed of. 10. There will be no order as to costs.