Pyramid infra services vs KARUR VYSYA BANK on 5 August 2026

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON Appeal Diary No. 442 of 2026 Order No. 07 05.08.2026 M/s. Pyramid Infra Services&2 0thers … Appellants -Vs- Karur Vysya Bank & 2 0thers … Respondents Mr. Nemani Srinivas, Learned Counsel for the Appellants Mr. G. Krishna Chaitanya (Virtual), Learned Counsel for Respondent No. 1/Bank Mr. Sreyash Basu Dasgupta, Learned Counsel for Respondents No. 2 and 3 THE APPELLATE TRIBUNAL: I.A. 347 of 2026 Application, under Section 18 (1) of the SARFAESI Act, 2002, filed by Appellant praying for waiver from making pre deposit. Opposition filed by Respondents No. 2 and 3. Heard the Learned Counsel for Appellant. Admittedly, Appellant is Borrower. Appeal is preferred against judgment and order passed in S.A. filed by Appellant. I.A. 347 of 2026 is filed praying for waiver from making pre deposit. Law is settled as has been held the Hon’ble Apex Court in Narayan Chandra Ghosh -Vs- UCO Bank [(2011) 4 SCC 548] that provisions of Section 18 of the SARFAESI Act, 2002 are mandatory in nature.

2 It is submitted that the debt due as determined in the O.A. 197 of 2021 on 15.2.2022 wherein O.A. amount claimed is Rs.3,19,20,362.00 and the interest awarded is 18% per annum. Accordingly, now debt as on 30th June, 2026 is Rs.5,45,83,725.49. Since appeal is filed on 26th April, 2026, this amount can be rounded off to Rs.5.30 crore. In such circumstances, Appellant is directed to make 50% of Rs.5.30 crore within four weeks. Accordingly, I.A. 347 of 2026 stands disposed of. List on 7th September, 2026 for further orders. (Anil Kumar Srivastava,J) Chairperson Dated: 5thAugust, 2026 04/ac