Debts Recovery Tribunals and Appellate Tribunals
BANK OF BARODA vs KALSARIYA BROTHERS AND ORS on 3 March 2025
Exh-5
<table border="1"><tr><td data-bbox="188 71 321 98"><b>03.03.2025</b></td><td data-bbox="321 71 874 98"><b>RA/1/2025</b></td></tr><tr><td data-bbox="188 98 321 949"><b>PRESENT:</b></td><td data-bbox="321 98 874 949"><p>Mr. Hiren Shroff, Id. Counsel for the applicant<br/>Mr. D.D. Chauhan, Id. Counsel for the respondent.</p><p>This review application has been filed by the applicant bank which was respondent in connecting SA 61/2025 in which bypassing order dated 10.02.2025 that SA was initially disposed of on the basis of undertaking of the applicant who is respondent in this review application.</p><p>Ld. Counsel for the review applicant has submitted that in para 6 that the applicant has undertaken that they will deposit "along with all the remaining outstanding amount". It is prayed that although narration of undertaking this line has been shown quoted para 5 of the undertaking in the impugned order, but this fact has not been mentioned in para 5 of the operative portion of the impugned order which is creating confusion.</p><p>It is further submitted that while submitting the undertaking respondent/applicants have shown demand draft No. 525189 dated 07.02.2025 for an amount of Rs. 61.00 lacs which they claimed that they will deposit it immediately with the applicant (original respondent bank) without waiting for 30 days from the order dated 10.02.2025 which they have not still deposited because in the operative portion of the impugned order this fact also did not find place.</p><p>On the basis of this it is prayed that operative portion of the order dated 10.02.2025 be modified in the light of the above prayer.</p><p>Ld. Counsel for the respondent (original applicant) has not denied the averments made in the review application but has submitted that 30 days have not yet passed and they will deposit the demand draft as soon as possible. As far as modifying para 5 of</p></td></tr></table>
Nair/05
operative portion of impugned order dated 10.02.2025 is concerned, he has admitted that due to clerical mistake, "along with all the remaining outstanding amount" has been left.
In the facts and circumstances, the review application is liable to be partially allowed and operative portion of impugned order dated 10.02.2025 passed in SA 61/2025 needs to be modified. Accordingly, the operative portion of impugned order 10.02.2025 is replaced and shall now be read as under:-
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ORDER
1. 1. Undertaking Ex. A/6 is hereby accepted.
2. 2. **The respondent/original applicants are directed to deposit demand draft No. 525189 dated 07.02.2025 for Rs. 61.00 lacs with the applicant/original respondent bank within four days from today i.e. on or before 07.03.2025.**
3. 3. The applicant is directed to deposit with the Respondent bank the fixed reserved price plus Rs. 5.00 lacs with regard to the property described in para 4 of the undertaking Ex. A/6 within 30 days of this order.
4. 4. The applicants are directed to deposit with the respondent bank, the fixed reserve price plus Rs. 5.00 lacs with regard to the property as mentioned in para 5 of the undertaking Ex. A/6 within 60 days of this order.
5. 5. The applicant is further directed to deposit fixed reserve price plus Rs. 5.0 lacs with regard to the property as mentioned in para 6 of the undertaking Ex. A/6 within 90 days' of this order **along with all remaining outstanding amount.**
6. 6. The respondent bank is directed that upon payment of entire amount by the applicant within 90 days of this order. The respondent bank will release charger over the said property in favor of the concerned applicant/mortgager and also issue "No Due Certificate" in favor of the applicants and return all the original title deeds in respect of all the mortgaged immovable property in question, within seven days after entire payment being made by the applicants.
1. 7. It is made clear that in the event of a single default on the part of the applicant, the bank will be at liberty to proceed under SARFAESI Act, 2002 in accordance with due process of law.
With these observations this SA is hereby finally disposed of.
A copy of this order be kept in the file of SA No. 61/2005.
Let the file be consigned.
(PANKAJ KUMAR UPADHYAY) PRESIDING OFFICER DRT-II, AHMEDABAD