Abhay Dutta Mishra And 3 Ors. v. Punjab National Bank And 2 Ors.

Appeal Dy. No. 1058/2022 Date: 21.12.2022

Abhay Dutta Mishra Vs. Punjab National Bank

Present: Shri Jahagir Hyder, counsel for the appellant, Shri S. K. Pandey, counsel for the respondent-Bank,

Learned counsel for the respondent-Bank states that even compromise order passed by the Tribunal below has not been complied with by the appellant and in the interregnum, third party interest has been created, as the property has been sold, sale has been confirmed and sale deed has also been executed in favour of the respondent no. 3-Auction Purchaser. Learned counsel for the respondent-bank further submits that he does not have any instruction, whether the possession has been handed over to the auction purchaser or not.

Learned counsel for the appellant contends that the matter regarding possession is still pending before the District Magistrate concerned and the possession has not been handed over to the auction purchaser. On the previous date, the appellant had deposited a demand draft no. 655386 dated 13.12.2022 for Rs. 38,94,202.00 in favour of the Punjab National Bank.

Learned counsel for the respondent-Bank further submits that as the money has been received from the auction purchaser, therefore, the said draft, which has been deposited by the appellant, cannot be accepted.

The draft deposited by the appellant is payable to the Punjab National Bank, therefore, the learned counsel for the appellant is directed to receive back the same and obtain afresh demand draft of the same amount from the issuing Bank in the name of the Registrar, DRAT, Allahabad and