This interim order listed the appeal filed under Section 18 of the SARFAESI Act for instructions regarding the appellant's sale of mortgaged property and prior litigation before the High Court.
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Appeal Dy. No. 920/2022 Date: 10.11.2022
M/s Aar Kay Enterprises a proprietorship firm Vs. Punjab National Bank
Present: Shri Avinash Jaiswal, counsel for the appellant, Shri S. K. Pandey along with Shri Prashant Kumar Pandey, counsel for the respondent-Bank,
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 20.10.2022 passed by the DRT, Allahabad in S.A. No. 345/2022.
The report of the Registrar dated 09.11.2022 shows that I.A. No. 550/2022 being urgency application and I.A. No. 551/2022 being waiver application as well as I.A. No. 552/2022 being stay application have been filed.
The aforesaid report further reveals that no pre-deposit has been made and as per demand notice dated 17.07.2019, the amount due shown against the appellant was Rs. 2,73,94,567/- as plus interest and the appellant has deposited Rs. 55.00 lacs in pursuance of letter dated 30.03.2021.
Learned counsel for the respondent-bank submits that the appellant has already sold the mortgaged property to one Suman Rai in February 2022, who has also filed the securitization application before the DRT, Delhi. The learned counsel further submits that the appellant has approached before the Hon’ble Delhi High Court with regard to the same subject matter, which is under challenge in the present appeal.
Learned counsel for the appellant submits that he has no instruction in this regard and seeks a short time for the same.
Let the counsel for the appellant take instruction from his client with regard to the submission made by the learned counsel for the Bank.
List this case on 18.01.2023.
Justice R. D. Khare Chairperson
VN Giri
1 provisions across 1 enactments
M/s Aar Kay Enterprises
Punjab National Bank
R. D. Khare
VN Giri
As recorded by the court registry
7 orders share this CNR
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