Dr (Col) Rajesh Kumar Sharma v. Bank Of India And ORS

$~18 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 1713/2016 DR (COL) RAJESH KUMAR SHARMA ..... Petitioner Represented by:

Mr.Jagjit Singh, Adv.

versus BANK OF INDIA AND ORS ..... Respondent Represented by:

Ms.Reena Jain Malhotra, Adv.

for R-1.

CORAM:

HON'BLE MR. JUSTICE PRADEEP NANDRAJOG HON'BLE MS. JUSTICE MUKTA GUPTA

O R D E R

% 29.02.2016 CM 7348/2016 Allowed subject to just exceptions.

W.P.(C) 1713/2016 1.

As per Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, appeal preferred against an order passed by DRT in proceedings initiated under Section 19 of the said Act require 75% of the debt found determinable by DRT to be deposited, with a power vested in the DRAT to waive or reduce the amount to be deposited; but after recording reasons.

2.

In the instant case the DRAT has, after recording reasons, reduced the same to only 10% of the determined principal amount. W.P.(C) 1713/2016

3.

We find no infirmity in the impugned order which has weighed the pros and cons and has granted substantial relief to the writ petitioner. 4.

The writ petition is dismissed in-limini.

5.

No cost.

CM 7347/2016 (stay) Dismissed.

PRADEEP NANDRAJOG, J.

MUKTA GUPTA, J.

FEBRUARY 29, 2016 'ga'

W.P.(C) 1713/2016