M/ S Keller Industries Ltd. and 3 Ors. v. Punjab National Bank and Anr.
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Appeal Dy. No. 46/2022 Date: 03.11.2022
M/s Keller Industries Ltd. & Anr. Vs. Punjab National Bank & Anr.
Present: Shri Siddharth Nandwani, counsel for the appellants, Shri S. K. Srivastava, counsel for the respondent-Bank, Shri Maneesh Mehrotra, counsel for the respondent-Auction Purchaser,
Learned counsel for the appellants contends that he will serve the copy of memo upon the counsel for the respondent-bank within 48 hours.
Learned counsel for the appellants submits that the total outstanding against the appellant in the sale notice was Rs. 3,25,67,181.80 and the secured asset of the appellant was auctioned by the respondent-Bank for a sum of Rs. 9,74,80,000/-. Therefore, there is no need for making any pre-deposit.
It is contended that the delay in filing the present appeal is squarely covered by the judgment passed by the Hon’ble Supreme Court in Suo Moto Writ Petition No. 03 of 2020, therefore, there no delay in filing the present appeal.
Learned counsel for the respondent may file response to the submission made by the counsel for the appellant.
Till the next date of listing, the parties concerned are directed to maintain the status quo qua the property in question, as exists today.
List this case on 20.01.2023 for reply.
Parties & counsel
- appellant
M/s Keller Industries Ltd.
- respondent
Punjab National Bank
Coram
R. D. Khare
Case details
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