AKSHANSHA KHARE vs PUNJAB NATIONAL BANK on 6 January 2021

CONTD. ORDER-SHEET PAGE No... CASE No... *****'* ''******************. DATE DESCRIPTION OF THE ORDER REMARK MA 81/2020 06/01/20 Counsel for applicant is present. Counsel for respondent bank is present. SA was already disposed. MA 81/2020 is filed by the applicant extent to deposit the balance amount of Rs.85 Lacs and modify the order dated 10/01/2020 in the above SA. bank is Counsel for respondent present and vehemently opposed and submitted that property was already auctioned for Rs.79,19,000.00 and 25% bid amount is already paid by the auction purchaser. Now the applicant wants to pay the amount of Rs.85 Lacs i.e. more than 6 Lacs to the auction amount and still the public morney is to be recovered. Hence, this tribunal permitted the applicant to deposit the 25% of auction amount which is deposited by the auction purchaser i.e. nearly Rs.20 Lacs on or before 31/01/2021 and balance amount of Rs.65 Lacs on or before 15/03/2021 and after deposit of total amount by the applicant, the respondent bank is directed to return the 25% of the amount deposited by the auction purchaser with CONTD. ORDER-SHEET PAGE No..... *'**** CASE No.... DATE DESCRIPTION OF THE ORDER interest in fixed deposit of rate of interest REMARK to the auction purchascr and the interest and other expenses also directed to bear by the applicant. The respondent bank is further directed to invest the amount ot Rs.20 Lacs in fixed deposit till 15/03/2021. In case the applicant failed to comply any of the terms, the respondcnt bank is at liberty to take steps as per law. (P. Ravi Kiran) B.Com. M.L. Presiding Officer DRT, Cuttack Camp at DRT, Jabalpur