Debts Recovery Tribunals and Appellate Tribunals
Bhavisya Nirman Private Limited vs The Authorised Officer, Authum Investment on 21 August 2026
**IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
HON'BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON**
**Misc. Appeal Dy. No. 781 of 2025**
Order No.11
15.06.2026
Bhavisya Nirman Pvt. Ltd.
.....Appellant
-Vs-
Authum Investment &
Infrastructure Ltd. & Anr.
... Respondents
Mr. Arijit Bardhan, Learned
Counsel, Mr. Gaurav Mondal,
Learned Counsel for Appellants.
Mr. Ajit Kumar Mishra, Learned
Counsel for Respondent
**THE APPELLATE TRIBUNAL :**
**I.A. No. 447 of 2025**
Heard the Learned Counsel for the parties and perused the record.
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1. **2.** I.A. No. 447 of 2025 Application under Section 18 of the SARFAESI Act, 2002 for waiver from making pre-deposit. Learned Counsel for the Appellant would submit that the amount shown as debt due in the Notice under Section 13(2) of the SARFAESI Act, 2002 dated 22<sup>nd</sup> September, 2021 was Rs.3,11,07,961/-. Thereafter an amount of Rs.77,38,025.00 was deposited on 29.09.2021. Rs. 40 lacs was deposited under the Orders of the Hon'ble High Court on 29<sup>th</sup> October, 2025. Appeal was filed on 16<sup>th</sup> July, 2025.
2. **3.** Learned Counsel for the Respondent would submit that the debt due as on 31<sup>st</sup> December, 2025 is
2
Rs.5,11,77,956.52. Accordingly, that amount should be taken into consideration for considering the amount of pre-deposit.
4. As far as the issue of pre-deposit is concerned, as on the date of filing of the Appeal as per the Statement of Account, an amount of Rs.3,81,39,312.11 was due. After issuance of the Notice under Section 13(2) of the SARFAESI Act, 2002, an amount of Rs.77,38,025.00 was deposited. Rs.40 lacs was deposited under the orders of the Hon'ble High Court which comes to total Rs. 1.17 crores. Learned Counsel for the Appellant submits that the amount of pre-deposit may be reduced to 25% as the Notice under Section 13(2) of the SARFAESI Act, 2002 was issued in the year 2021 wherein after the Covid 19 pandemic, business of the Appellant got collapsed.
5. Having considered the submissions and keeping in view the deposit made by the Appellant and the grounds taken by the Appellant, I found it appropriate that amount of pre-deposit be reduced to 25% of the debt due as on the date of filing of the Appeal i.e. Rs.3,81,39,312.11 which is already deposited by the Appellant. Accordingly, I.A. No. 447 of 2025 stands disposed of.
6. Admit the Appeal by providing a regular appeal number. Opposition to the Appeal be filed within three weeks with copy to the Appellant who may file rejoinder within two weeks thereafter.
In C. O. No. 3592 of 2025, Hon'ble High Court in order dated 14.10.2025 stayed the operation of the additional- ~~District Judge~~ <sup>CJM & Mr</sup> Silliguri passed under Section 14 of the  
SARFAESI Act, 2002 till disposal of the waiver Application. Since waiver Application is being disposed of today, the operation of the order under Section 14 the SARFAESI Act, 2002 passed by Learned CJM Siliguri shall remain <sup>stayed</sup> continued till the next date of listing.
List on 10<sup>th</sup> August, 2026 for hearing.
(Anil Kumar Srivastava, J) Chairperson
Dated 15<sup>th</sup> June, 2026 4/1p
Corrected today
21/8/26