Canara Bank v. M/ S v S Developers

Appeal Dy. No. 142/2022 Date: 13.05.2022

Canara Bank Vs. M/s V. S. Developers

Present: Shri Maneesh Mehrotra, counsel for the appellant, Shri S. K. Gupta, counsel for the respondent,

Heard the learned counsels for the parties.

The present application has been filed by the appellant under section 17(6) of the SARFAESI Act, 2002 for direction to the Tribunal below for expeditious disposal of the pending S.A. No. 244/2017.

Learned counsel for the appellant submits that pleadings of the S.A. are complete, but there is an interim order in favour of the borrowers, therefore, they are avoiding the hearing and the case is being adjourned on pretext or the other. He further submits that due to continuing of the interim order, the appellant-Bank is unable to proceed further for recovery of a huge outstanding public money, therefore, the Tribunal below be directed to decide the aforesaid S.A. within a time frame in accordance with law as this Tribunal may deem it fit and proper.

In view of the above, the present application is disposed off with direction to the DRT, Allahabad for considering and deciding the S.A. No. 244/2017 most expeditiously in accordance with law, preferably within three months from the date of production of certified copy of this order.

Justice R. D. Khare Chairperson

VN Giri