Debts Recovery Tribunals and Appellate Tribunals
Pappula Masenu Venkanna vs INDIAN BANK on 30 September 2026
**DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
(Holding Additional Charge of DRAT, Kolkata)**
**Diary No. 1023/2026 (Misc. Appeal)
Arising out of S.A. No. 745/2025 (DRT-Visakhapatnam)**
**Item No. 2**
**Pappula Masenu Venkanna
V.
Indian Bank**
**30.09.2026 Hon'ble Dr. Justice Sudhir Kumar Jain**
Present: Sh. Anupam Sharma, Senior Advocate along with Sh. Abhishek Batra, Sh. Akash Madan and Ms. Aansi Pathak, Advocates for appellant Sh. Anant Gautam along with Sh. Vibhu Sharma, Sh. Rishi Chauhan, Advocates for respondents no.1 and 2
Sh. Asheesh Jain, Senior Advocate along with Sh. Sahil Sood and Ms. Shruti Shivkumar, Advocates for respondent no.3
This matter is taken up through Hybrid hearing.
**I.A. No. 637/2026 (application for seeking reduction of pre-deposit)**
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1. The instant application is filed for seeking waiver of pre-deposit to 25% as per proviso of the Section 18 of the SARFAESI Act, 2002.
2. Sh. Anupam Sharma, Senior Advocate stated that as per demand notice under Section 13(2) dated 30.04.2024 a sum of Rs.2,80,76,068/- was shown as outstanding dues against the appellant. The appellant filed a Writ Petition bearing W.P. (C) No. 4577/2026 before the Andhra Pradesh High Court and the Andhra Pradesh High Court vide order dated 30.04.2026 has ordered that the sale shall not be confirmed and the registration of sale certificate shall not be done till the disposal of the S.A. but subject to the condition that the appellant shall deposit 30% of the amount due as on 04.01.2026 which was amounting to Rs.3,39,49,057/. The appellant has deposited the said amount which is also affirmed by the Counsel for respondents no 1 and 2.
3. The respondents no.1 and 2 have issued notice of sale dated 05.01.2026 wherein the outstanding dues were mentioned as Rs.3,39,49,057/-. DRT-Visakhapatnam vide impugned order dated 05.09.2026 has finally disposed of S.A. bearing No. 745/2025 whereby the S.A. preferred by the appellant was ordered to be dismissed. The appellant being aggrieved filed another Writ Petition bearing W.P. (C) No. 25720/2026 which was allowed vide order dated 21.09.2026 and the sale certificate dated 17.09.2025 was ordered to be kept in abeyance along with the impugned order dated 05.09.2026 besides passing other directions as mentioned.
4. Sh. Anupam Sharma, Senior Advocate for the appellant stated that the appellant have already deposited 30% of the amount as mentioned in the sale notice dated 05.01.2026 and as such complied with the requirement of making the per-deposit.
5. Sh. Ashish Jain, Senior Advocate for respondent no.3 argued that as per the mandate of Section 18 the appellants are required to make pre-deposit before the Tribunal and, if any, amount deposit with the respondents no.1 and 2 in pursuance of the direction passed by the Andhra Pradesh High Court cannot be taken as making of pre-deposit within the mandatory of Section 18 of the SARFAESI Act. He further stated that no financial hardship is shown by the appellant for reduction of pre-deposit from 50% to 25%. Sh. Jain, Senior Advocate further stated that the sale certificate and the registration of sale certificate were done before filing of the subsequent Writ Petition.
6. Let respondents are directed to file their response to the application bearing I.A. No.637/2026 for waiver of pre-deposit to 25%. The response, if any, be filed on behalf of respondents within two weeks from today with advance copy to the briefing Counsel for the appellants. Rejoinder, if any, be filed within two weeks thereafter with advance copy to the Counsels for respondents.
7. List on 12.11.2026 for arguments.
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**(Dr. Justice Sudhir Kumar Jain)** **Chairperson** **Addl. Charge, DRAT, Kolkata**
-NS