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TMI Blog2005 (12) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... itisation Act as ultra-vires Article 14 of the Constitution of India. 2. Heard learned counsel for the parties and perused the record. 3. The petitioner is a retired Government servant. Respondent No. 3 M/s Graffiti Infotech Ltd. is a company registered under the Indian Companies Act and is carrying on the business of dealing in laptop computers etc. Presently, it is being managed by respondent No. 4. The respondent No. 3 availed certain credit facilities to the extent of ₹ 30 lakhs by way of hypothecation of stocks etc. Immediately after availing the loan from respondent No. 2/Punjab Sind Bank, respondent No. 3 has been showing losses. On account of irregularities in repayment to respondent No. 2, the said respondent No. 2 de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tan Magistrate by order dated 7.8.2004 sought to take possession of the two properties being Flat No. B-21, South Park Apartments, Kalkaji, New Delhi and Flat No. 80, NPL Apartments, Vikaspuri, New Delhi. It is stated that subsequently pursuant to negotiations a sum of ₹ 4.53 lakhs was deposited with the respondent No. 2 on 25.9.2004. 7. It is alleged in the writ petition that contrary to the assurances of the bank, possession of the property bearing Flat No. 80, NPL Apartments, Vikaspuri, New Delhi was taken over by the receiver on 29.12.2004. The other property bearing Flat No. B-21, South Park Apartments, Kalkaji, New Delhi, possession of which was also to be taken over pursuant to the notice dated 13.9.2004, is still with the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the action of the respondent bank was illegal since there was no mortgage nor was respondent No. 2 a secured creditor, and hence it could not invoke the provisions of the Securitisation Act. 9. The petitioner approached the Debts Recovery Tribunal by way of appeal which restrained respondent No. 2 from selling the property without the prior permission of the Tribunal. Since no bid was received by the respondent bank, hence it issued auction notice on 5.2.2005, but the tribunal restrained the bank from inviting bids/or selling the property. 10. The father of the respondent No. 4 had filed an appeal in respect of property bearing Flat No. B-21, South Park Apartments, Kalkaji, New Delhi and an appeal had been filed by the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... referred to in the second proviso. 14. By an order dated 23.9.2003 the Appellate Tribunal has directed the petitioner to deposit 25% of the debt within two weeks. 15. In the application for waiver before the Appellate Tribunal the petitioner has submitted that he is a retired Government servant of more than 71 years of age and has no means to make the deposit and hence that should be waived. However, by its order dated 23.9.2003, the Appellate Tribunal has held that it does not have a discretion to reduce the amount of deposit below 25%. Aggrieved by this, this writ petition has been filed in this Court. We are of the opinion that there is no merit in this petition. 16. The right of appeal is not an inherent right but is a creatu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the Legislature to decide whether the right of appeal should be unconditionally given to an aggrieved party or it should be conditionally given. The right to appeal which is a statutory right can be conditional or qualified. 19. In Elora Construction Company v. The Municipal Corporation of Gr.Bombay and Ors. AIR 1980 Bom 162, the question before the Bombay High Court was as to the validity of Section 217 of the Bombay Municipal Act which required pre-deposit of the disputed tax for the entertainment of the appeal. The Bombay High Court upheld the said provision and its judgment has been referred to with approval in the decision of Supreme Court in Gujarat Agro Industries Co. Ltd. v. Municipal Corporation of the city of Ahmedabad and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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