Full Judgment Text
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NON-REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 11916-11917 OF 2016
[ @ SPECIAL LEAVE PETITION (C) NOS. 36266-36267 OF 2015]
S.D. BHOSKAR AND CO. AND ANR Appellant(s)
VERSUS
BANK OF BARODA AND ANR. Respondent(s)
J U D G M E N T
KURIAN, J.
1. Leave granted.
2. The appellants are aggrieved by the direction
given by the High Court to make a pre-deposit before
the Debts Recovery Appellate Tribunal (DRAT) under
the SARFAESI Act, 2002.
3. According to the appellants, they had already
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approached the DRAT and had deposited Rs. 12.50 Lakhs
in respect of the same subject matter, when
proceedings were initiated under the Recovery of
Debts Due to Banks and Financial Institutions Act,
1993 and hence, it will be highly unjust to insist
for a pre-deposit before the DRAT in proceedings
under the SARFAESI Act.
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4. Though both the sides are prepared to address
arguments on the issue, having regard to the fact
that the appeals are pending before the DRAT, we do
not think that we should address the question of law
as such.
5. Therefore, leaving the question of law open and
in the peculiar facts of this case, we dispose of
these appeals and direct the DRAT, Mumbai to dispose
of Appeal Nos. 296 of 2006 and 139 of 2011
expeditiously and at any rate, within a period of six
months from today.
6. We direct the parties to cooperate in the
expeditious disposal of the appeals. The interim
order granted by this Court staying the further
deposit under the SARFAESI Act will continue till the
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disposal of the appeals by the DRAT. Further, there
shall be no coercive steps for recovery till the
appeals are disposed of.
No costs.
.......................J.
[ KURIAN JOSEPH ]
.......................J.
[ ROHINTON FALI NARIMAN ]
New Delhi;
December 07, 2016.
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