Appeal by a bank against a DRT order maintaining status quo. The appellant sought expedited disposal of the related appeal before the DRT, which was directed by this tribunal.
This miscellaneous appeal stands disposed of with a direction to the DRT to dispose of SA No. 408/2022 as expeditiously as possible.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No. 291/2022 Arising out of S.A. No. 408/2022 (DRT-I, Delhi)
M/s Kotak Mahindra Bank Ltd. Vs M/s Sunder Marketing Associates Pvt. Ltd. & Ors.
29.11.2022 Hon’ble Mr. Justice Brijesh Sethi
Present: Mr. Manish Kumar along with Mr. Piyush Kaushik, Ld. Counsels for appellant.
This matter has been taken up by me through Video Conferencing. Miscellaneous Appeal No. 291/2022
This is an appeal filed by the appellant bank against the impugned order dated 12.09.2022 passed by Ld. DRT-I, Delhi in S.A. No. 408/2022 whereby parties are directed to maintain status quo in respect of the property in question.
Ld. Counsel for appellant states that Ld. DRT has granted the status quo order without hearing the arguments of the respondents inter alia in reference to Rule 8(2) of the Security Interest (Enforcement) Rules, 2002 as Ld. DRT in its impugned order particularly in paras 9 & 10 has arrived at an erroneous conclusion that the possession notice dated 12.07.2022 under Section 13(4) of the SARFAESI Act has not been served properly upon the appellant because the said possession notice was not published in two leadings newspapers.
However, at this stage, Ld. Counsel for appellant states that present appeal would stand satisfied if direction is issued to the Ld. DRT to decide all the legal issues in S.A. No. 408/20222 as expeditiously as possible. He further states that the case is coming for 14.12.2022 before Ld. DRT-I, Delhi.
Heard. The Ld. DRT who is having the jurisdiction over the matter is requested to take up matter on the next date of hearing i.e. 14.12.2022, if it is not possible to take up the matter on the said date, then to take it up immediately thereafter, and dispose of the same as expeditiously as possible.
With the above direction, the present appeal stands disposed of.
File be consigned to record.
(CHAIRPERSON)
N
M/s Kotak Mahindra Bank Ltd.
M/s Sunder Marketing Associates Pvt. Ltd.
Brijesh Sethi
As recorded by the court registry
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