The Hon'ble Allahabad High Court, Lucknow Bench, disposed of a writ petition challenging the inaction of the Debt Recovery Tribunal and interdicting coercive steps by the bank. The petitioner subsequently withdrew the petition, resulting in its dismissal.
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Neutral Citation No. - 2024:AHC-LKO:49384
Court No. - 19
Case :- MATTERS UNDER ARTICLE 227 No. - 3319 of 2024
Petitioner :- M/S Shipra Trading Company, Noida Thru. Proprietor Mrs. Vinita Garg And Others Respondent :- Debt Recovery Tribunal, Lucknow And Another Counsel for Petitioner :- Rana Rahul Singh,Desh Deepak Singh
Counsel for Respondent :- Praveen Dwivedi
Hon'ble Manish Kumar,J.
Heard.
Learned counsel for the petitioner has submitted that the present petition has been preferred for issuing a direction to the respondent no. 1-Debt Recovery Tribunal, Lucknow to decide the S.A. No. 602 of 2023 (M/s. Shipra Trading Company &others Vs. Punjab National Bank) filed by the petitioner under Section 17 (1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter to referred to as "the SARFAESI Act, 2002"), within the time as specified by this Court and further with a prayer to direct the respondent no. 2 to not take any coercive steps till the pendency of the S.A. No. 602 of 2023. It is further submitted that the urgency application was preferred by the petitioner before the respondent no. 1 on which 10.7.2024 was fixed and thereafter several dates were also fixed and now the next date fixed is 25.7.2024. It is also submitted that during the pendency of the S.A. No. 602 of 2023, the Bank is proceeded under Section 14 of the SARFAESI Act, 2002 for taking possession of the property of the petitioner against the loan taken by the Bank.
On the other hand, Sri Praveen Dwivedi has submitted that the petitioner has also filed an amendment application challenging the order passed by the District Magistrate under Section 14 of the SARFAESI Act, 2002 as well as another amendment applicant challenging the proceedings of sales and both these amendment applications are still pending. It is further submitted that perusal of the order sheet discloses that the petitioner sought time for proof of intimation and the next date fixed is 25.7.2024. He further submits that option has already been made and sale certificate has also been issued to the auction purchaser.
At this stage, learned counsel for the petitioner prays for withdrawal of the present petition.
As prayed by the learned counsel for the petitioner, the present petition is dismissed as withdrawn.
Order Date :- 23.7.2024 A nuj Singh
Digitally signed by :- ANUJ PRATAP SINGH High Court of Judicature at Allahabad, Lucknow Bench
M/S Shipra Trading Company, Noida Thru. Proprietor Mrs. Vinita Garg And Others
Debt Recovery Tribunal, Lucknow And Another
Manish Kumar
As recorded by the court registry
2 orders share this CNR
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