-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO. 2214 OF 2010 Paramed Private Limited and others ... Petitioners versus Bank of Baroda and another ...Respondents Dr. Birendra Saraf with Mr.T.N.Tripathi and Ms. Sapna Rachure, instructed by M/s. T.N. Tripathi & Co., for the petitioners. Ms. Renuka Nair, instructed by M/s. Kidwani & Co., for respondent No.1. Ms. J.N. Pandhi for respondent No.2. CORAM: P.B. MAJMUDAR & ANOOP V. MOHTA, JJ. DATE: OCTOBER 27, 2010. P.C. This writ petition is directed against the order of the Debts Recovery Appellate Tribunal (DRAT) dated 31st August, 2010, by which the DRAT has directed the petitioners to deposit in all Rs. 7 lakhs towards the pre-deposit for the purpose of entertaining the appeal being Appeal No. 98 of 2010 filed by the present petitioners. Dr. Saraf, learned counsel appearing for the petitioners, submits that the petitioners are having very weak financial condition and two of the petitioners are required to take medical treatment. He submits that the business is totally closed and in fact one of the shops was already taken away by the Bank to recover its dues. He further submits that even the DRAFT has also -2- found the condition of the petitioners being weak in paragraph 3 of the order. 2. Learned counsel for the respondent-bank states that since the petitioners have not produced any documentary evidence to show that their financial condition is weak, this Court may at least direct them to deposit substantial amount towards pre-deposit. 3. We have heard the learned counsel appearing for the parties. Considering the facts and circumstances of the case as also the fact that one of the shops was already taken away by the Bank towards the security of the debt, we modify the order of the DRAT that instead of Rs. 7 lakhs in all, we direct the petitioners to deposit in all Rs. 3 lakhs towards pre-deposit. The learned counsel for the petitioners has also agreed that his clients will file an undertaking in this behalf to the effect that the petitioners shall deposit before DRAT Rs. One lakh commencing from 15th November, 2010 and the last instalment will be cleared by 15th January, 2011. On deposit of Rs. 3 lakhs as aforesaid, the DRAT shall proceed with the appeal on merits. The undertaking to the aforesaid effect that every month Rs. One lakh will be deposited before the DRAFT be filed by 10th November, 2010 before the Registry of this Court. In case the undertaking is not filed as aforesaid and if any default is committed in the payment of such instalment, the appeal filed before the DRAT shall stand automatically dismissed for not complying with the conditions as aforesaid. -3- However, if the amount is paid within three months as aforesaid, the appeal to be entertained on merits and be disposed of in accordance with law. The order of the DRAT is substituted accordingly. The writ petition is allowed to the aforesaid extent. P. B. MAJMUDAR, J. ANOOP V. MOHTA, J.