The Tribunal dismissed an appeal challenging a status quo order granted by the DRT, Pune. Instead of allowing the stay, the Chairperson directed the DRT to dispose of the underlying stay application within two months.
Direction to the DRT, Pune to dispose of S.A. No. 100/2022 within two months.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
Misc. Appeal No. 39/2022
Between
M/s. Indostar Capital Finance Ltd. … Appellant/s V/s. Santosh Uttam Sawane & Ors. …Respondent/s
Mr Sanjeev Sagar, along with Mr. Navin Arora & Mr. Rishabh Malik, i/b M/s. Mr. Rishabh Malik & Associates, Advocate for Appellant. Ms Aarti Suvarna, Advocate for Respondents.
-: Order dated: 17/10/2022:-
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itself to give a direction to the learned presiding officer, D.R.T., Pune to dispose of the S.A. No. 100/2022 as expeditiously as possible at any rate within the period of two months from the date of receipt of this order.
Sd/Chairperson
mks-17
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3 issues framed by the court
Whether the appeal by the financial institution should be disposed of to expedite the disposal of the underlying stay application.
Whether the direction to maintain status quo on the deposit of forty lakh rupees is appropriate given the accumulated dues.
Whether the appeal by the assignee challenging the consideration of an Ownership Transfer Scheme proposal should be allowed.
Colour shows how this judgement treated each authority
Bijnor Urban Co-operative Bank Limited v/s Meenal Agarwal and OthersReferred¶9
Bijnor Urban Co-operative Bank Limited, Bijnor and Others v/s Meenal Agarwal and Others 2021 SSC Online SC 1258
2 provisions across 2 enactments
M/s. Indostar Capital Finance Ltd.
Santosh Uttam Sawane & Ors.
Ashok Menon
As recorded by the court registry
3 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
