TMI Blog2019 (7) TMI 1912X X X X Extracts X X X X X X X X Extracts X X X X ..... im that it has adjusted the said amount, and did not limit its claim for the balance amount. Consequently, while adjudicating the Original Application, the DRT has proceeded on the basis that the respondent-bank is bound by the settlement amount of ₹ 145 crores, and is entitled to future interest thereon at the rate of 9% per annum from 5th July, 2012 onwards till realization on the reducing balance, after taking into account the amount of ₹ 152,81,07,159/- received during the pendency of the Original Application. Merely because the amount of ₹ 152,81,07,159/- was received by the respondent-bank before passing of the final judgment, and not thereafter, would make no difference while considering the aspect of pre-deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 27.2.2019, the learned DRAT while dealing with I.A No.511/2018 preferred by the petitioners for grant of waiver to the appellants/petitioners from making pre-deposit of 50% of the debt determined by the DRT, directed the petitioners/appellants to make pre-deposit of 50% of the amount of 68,18,92,841/-. By the second order, the application preferred by the appellants/petitioners i.e I.A No. 361/2019-whereby the petitioner sought review/recall of the first order, was rejected. 3. The petitioners are the guarantors in respect of credit facilities advanced by the Respondent No.1-Kotak Mahindra Bank Pvt. Ltd. Ors. to the principal borrower M/s Hindon River Mills Limited. The respondent no.1 preferred the aforesaid Original Application to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... signee of the debt assigned by defendant no.4 EXIM Bank, will have to appropriate to recover its debt when the mortgaged property is sold in proportionate to the debts of the applicant bank and defendant no.5 Yes Bank and thereafter if any amount remains, the same will go to the applicant bank. The applicant bank is directed to file the revised statement of account before the Recovery Officer, DRT-II, Delhi. The Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-II, Delhi. The Registry of this Tribunal is further directed to issue the free copy of this judgment and send the same to the both parties. Parties are directed to appear before the learned Recovery Officer, DRT-II Delhi on 18th May, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the balance amount, on the premise that the amount claimed by the respondent-bank is ₹ 221 crores (approximately 145 crores with interest at 9% per annum from 5th July 2012 onwards). In support of his submission, Mr. Nayyar has sought to place reliance on the decision of the Division Bench of this Court in the case of Shrishti Arogyadham Pvt. Ltd. Vs. Punjab National Bank Ors. WP(C) 12299/2018 decided on 27.11.2018. The Division Bench was dealing with the writ petition arising out of an order passed by the DRAT. In that case, an order had been passed by the DRT on an application under Section 17 of the SARFAESI Act against the petitioner, which the petitioners had assailed before the DRAT. The Division Bench accepted the cont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T has not viewed the aspect of pre-deposit correctly in the present case. The amount of Rs. ₹ 152,81,07,159/- was received by the respondent-bank during the pendency of the Original Application. The respondent-bank did not amend its Original Application to claim that it has adjusted the said amount, and did not limit its claim for the balance amount. Consequently, while adjudicating the Original Application, the DRT has proceeded on the basis that the respondent-bank is bound by the settlement amount of ₹ 145 crores, and is entitled to future interest thereon at the rate of 9% per annum from 5th July, 2012 onwards till realization on the reducing balance, after taking into account the amount of ₹ 152,81,07,159/- received d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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