With the companysent of learned companynsel for the appellant as also the respondent bank, which is on caveat, we have heard the matter finally at the motion hearing stage itself.
This appeal by the borrower is directed against judgment dated 7th December, 2010 delivered by the High Court of Calcutta in C.O. No.3608 of 2009.
Leave granted.
By the impugned judgment, the High Court has set aside the order passed by the Debts Recovery Appellate Tribunal, Kolkata for short, the Appellate Tribunal in Appeal No.35 of 2009, whereby the Appellate Tribunal, while allowing the application filed by the appellant under Section 18 1 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for short, the Act had exempted the appellant from making any deposit in terms of second proviso to Section 18 of the Act before entertaining the appeal against the order passed by the Debts Recovery Tribunal.
