Debts Recovery Tribunals and Appellate Tribunals
Shri Sai Vishram Co Operative vs Bank of Baroda on 30 September 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 403/2025 (WoD)
In
Misc. Appeal Diary No. 1046/2025
Between
Sai Vishram Co-operative Housing Society Ltd. &
Ors.
… Appellant/s
V/s.
Bank of Baroda & Ors.
…Respondent/s
-: Order dated: 30/09/2026: -
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1. Present as under: Mr. Deepak K., Counsel for Applicant. Mr. Bhavesh Poojary, i/b M/s. MDP Legal, Counsel for Respondent No.
1. No representation for other Respondents despite repeated calls.
2. Heard on I.A. No. 403/2025 for waiver of deposit as mandatory under section 18 of the SARFAESI Act.
3. The Counsel for the Applicant would submit that the Applicants are neither the borrower nor the guarantors therefore, they have no liability to pay any due towards the Respondent Bank therefore they are not required to making the mandatory pre-deposit as per section 13 of the SARFAESI Act.
4. The Counsel for the Respondent would fairly consider at bar
that the Applicants are neither the borrower nor the guarantors and therefore they may be exempted from making the mandatory pre- deposit.
5. I.A. No. 403/2025 is allowed accordingly.
6. The appeal be registered.
7. Reply/objections to the ground of appeal be filed with advance copy to the Appellants.
8. List the matter on 04.01.2027 for hearing. Sd/- Chairperson 30.09.2026 VKC-02