Madras High CourtCRP/1719/2023disposed of

Bhavana Farms v. Bank Of Baroda

2023-06-05Honourable The Chief Justice,Honourable Mr Justice P.D.Audikesavalu5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 05.06.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU M/s.Bhavana Farms Residing at House No.296, 16th Cross, Sadashivanagar, Bangalore-560 080 rep. by its Partner N.Sreenivasa.

.. Petitioner Vs 1.Bank of Baroda, Zonal Stressed Asset Recovery Branch, 7th Floor, Vijaya Towers, 41/2, MG Road, Bangalore-560 001 rep. by its Authorized Officer.

2.Dinesh R 3.N.Jayalakshmi .. Respondents Prayer: Petition filed under Article 227 of the Constitution of India against the order dated 10.5.2023 made in I.A.No.143 of 2023 in AIR (SA) No.187 of 2023 on the file of the Debt Recovery Appellate Tribunal at Chennai in S.A.No.116 of 2022 dated 10.2.2023 on the file the Debts Recovery Tribunal-I at Bengaluru, Karnataka.

For the Petitioner : Mr.K.A.Ramakrishnan For the Respondent : Mr.R.Imayavaramban for M/s.Ramalingam Associates for respondent No.1 : No appearance for respondent No.2 : R3 - Given up

ORDER

(Order of the court was made by the Hon'ble Chief Justice) We have heard Mr.K.A.Ramakrishnan, learned counsel for the petitioner, and Mr.R.Imayavaramban, learned counsel for the first respondent.

2. The petitioner is challenging the order directing the petitioner to deposit 50% of the amount for entertaining the appeal filed under the provisions of Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

3. Learned counsel for the petitioner submits that subsequently the petitioner has deposited Rs.63 lakh and the Presiding Officer of the Debt Recovery Appellate Tribunal has directed the Registry to register the appeal.

4. In the light of that, the purpose of the present civil revision petition now does not survive. The petitioner may request the Debt Recovery Appellate Tribunal to consider the application for stay expeditiously, which request may be considered by the Debt Recovery Appellate Tribunal.

5. With the above observation, the civil revision petition is disposed of. There will be no order as to costs. Consequently, C.M.P.No.11165 of 2023 is closed.

(S.V.G., CJ.) (P.D.A., J.) 05.06.2023 Index : Yes/No bbr

To:

The Authorized Officer, Bank of Baroda, Zonal Stressed Asset Recovery Branch, 7th Floor, Vijaya Towers, 41/2, MG Road, Bangalore-560 001.

THE HON'BLE CHIEF JUSTICE AND P.D.AUDIKESAVALU, J.

bbr 05.06.2023