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NON-REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 11916-11917 OF 2016 [ @ SPECIAL LEAVE PETITION (C) NOS. 36266-36267 OF 2015] S.D. BHOSKAR AND CO. AND ANR                 Appellant(s)

                               VERSUS BANK OF BARODA AND ANR.                      Respondent(s)

J U D G M E N T

KURIAN, J. 1. Leave granted.   

2. The  appellants  are  aggrieved  by  the  direction given by the High Court to make a pre-deposit before the  Debts  Recovery  Appellate  Tribunal  (DRAT)  under the SARFAESI Act, 2002.    3. According  to  the  appellants,  they  had  already approached the DRAT and had deposited Rs. 12.50 Lakhs in  respect  of  the  same  subject  matter,  when proceedings  were  initiated  under  the  Recovery  of Debts Due to Banks and Financial Institutions Act, 1993 and hence, it will be highly unjust to insist for  a  pre-deposit  before  the  DRAT  in  proceedings under the SARFAESI Act.    

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4. Though  both  the  sides  are  prepared  to  address arguments  on the  issue, having  regard to  the fact that the appeals are pending before the DRAT, we do not think that we should address the question of law as such.   

5. Therefore, leaving the question of law open and in the peculiar facts of this case, we dispose of these appeals and direct the DRAT, Mumbai to dispose of  Appeal  Nos.  296  of  2006  and  139  of  2011 expeditiously and at any rate, within a period of six months from today.    6. We  direct  the  parties  to  cooperate  in  the expeditious  disposal  of  the  appeals.   The  interim order  granted  by  this  Court  staying  the  further deposit under the SARFAESI Act will continue till the disposal of the appeals by the DRAT.  Further, there shall  be  no  coercive  steps  for  recovery  till  the appeals are disposed of.            

No costs.   .......................J.

             [ KURIAN JOSEPH ]  

.......................J.               [ ROHINTON FALI NARIMAN ]  New Delhi; December 07, 2016.