As the appeal itself was being withdrawn, the first respondent moved the High Court of Gujarat at Ahmedabad by way of Writ Petition Special Civil Application , aggrieved by the observation that the withdrawal would be subject to the result of the appeal.
That appeal was dismissed by order dated 01.04.2015 by a Division Bench, and thus aggrieved, the Bank has companye up in appeal before this Court.
The same was disposed of by order dated 05.03.2015 by the learned Single Judge, setting aside the said companydition and permitting the first respondent herein to withdraw the amount unconditionally.
Realising that the appeal did number survive thereafter, the first respondent sought permission to withdraw the same and also for refund of the deposit of Rs.
The first respondent, being a borrower and aggrieved by the steps taken by the secured creditor, filed Securitisation Application No.
During the pendency of the appeal before the DRAT, Securitisation Application itself came to be finally disposed of before the Debt Recovery Tribunal at Ahmedabad, setting aside the sale.
Though, initially an interim relief was granted, the same was vacated by order dated 20.01.2011.
Therefore, the first respondent moved the Debt Recovery Appellate Tribunal, Mumbai under Section 18 of the SARFAESI Act.
152 of 2010 before the Debt Recovery Tribunal, Ahmedabad.
50 lakhs.
Aggrieved, the appellant Bank filed an intra Court appeal.
In terms of the proviso under Section 18, the first respondent made a deposit of Rs.50 lakhs before the Appellate Tribunal.
Permission was granted, however, making it subject to the disposal of the appeal.
