A.IR:629/2010
IA 1129/10 (waiver) Ld. Counsel appearing on behalf of the petitioner drew the attention of this Tribunal to the order passed by the Hon’ble High Court of Karnataka in WP No.25682/11 more particularly to paragraph 5 of the said order and stated that the Hon’ble High Court of Karnataka was pleased to hold that the order of this Tribunal dt 31.8.2010 is proper and prayed that the same may be continued.
Ld. Counsel Shri Muralidhar appearing on behalf of the respondent bank drew the attention of this Tribunal to the dictum laid down by the Hon’ble High Court of Madras in WP No.23708/11 and stated that this Tribunal should not venture to pass any order in the nature of an interim order restraining the action of the Authorized officer under the provisions of the SARFAESI Act unless the pre-deposit under Sec.18 of the SARFAESI Act is made.
He further stated that the order of this Tribunal directing the petitioner to make the pre-deposit has not been complied with and that therefore the interim order dt 2.5.2011 made in this IA and further that the interim order dt 31.8.210 made in IA No.1130/10 also should not be extended.
Heard the Ld. Counsel.
A perusal of the order dt 2.5.2011 in this IA reveals that the petitioner has not made the pre-deposit as required under Sec.18 of the SARFAESI Act and it is also seen that this Tribunal has passed interim orders without the pre-deposit being made.
Therefore this Tribunal is driven to dismiss this IA for the non compliance of Sec.18 of the SARFAESI Act.
IA 1130/10 (stay); IA No.1129/10 is dismissed. Hence this IA is also dismissed.
IA 1131/10 (stay of auction sale notice); IA No.1129/10 is dismissed. Hence this IA is also dismissed.
IA 1822/10 (stay of auction sale notice): IA No.1129/10 is dismissed. Hence this IA is also dismissed.
The above order was delivered by the Honble Chair Person of DRAT Chennai on 23rd Feb 2012
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