M/s Akshay Industries v. Oriental Bank of Commerce

Misc. Application No. 184/2023 Date: 23.02.2023

M/s Akshay Industries Vs. Oriental Bank of Commerce

Present: Shri R. N. Singh, counsel for the appellant, Heard the learned counsel for the applicant.

Learned counsel for the applicant submits that three simultaneous proceedings are running against the borrower, one T.A. No. 287/2018, second DRC No. 236/2018 and third an application before the DRT, Dehradun with regard to interim relief against the recovery proceedings.

Learned counsel for the appellant further submits that pursuant to the order dated 16.01.2023 passed by the Tribunal below, copy of which has been appended at page no. 11 of the paper book, written statement/defence has already been filed within the time as granted by the Tribunal below, but the same has not been considered and the applications are pending. It is therefore, prayed that the Tribunal below may be directed to decide the recall application first and meanwhile the recovery proceedings before the Recovery Officer may be kept in abeyance.

In the last, it is canvassed that the auction sale of the property in question is scheduled to be held today i.e. 23.02.2023, therefore, the same may be stayed.

Be that as it may, the applicant will be at liberty to move appropriate application for relief as claimed in the present application before the DRT concerned within 10 days and if such application is made within the time as stipulated, the same shall be considered and decided by the Tribunal below in accordance with law most expeditiously, preferably within a month from the date of production of certified copy of this order. If any sale is scheduled to be held today i.e. 23.02.2023, the same shall go-on, but be not confirmed till the disposal of the said application or till the expiry of the period as stipulated above, whichever is earlier. Accordingly, the present application is disposed off.