Bank of Baroda v. Savitri Devi Automobiles

Appeal Dy. No. 473/2023 Date: 23.11.2023

Bank of Baroda Vs. Savitri Devi Automobiles

Appeal Dy. No. 539/2023 Proficient Builders Pvt. Ltd. Vs. Bank of Baroda

Regular Appeal No. 89/2016 M/s Savitri Devi Automobiles Pvt. Ltd. & Ors. Vs. Bank of Baroda

Present: Shri Maneesh Mehrotra, counsel for the Bank, Shri Alok Rai, counsel for one of the Borrowers, Shri S. K. Gupta, counsel for the Auction Purchasers,

Heard the learned counsels for the applicants on the urgency applications being I.A. No. 918/2023, I.A. No. 911/2023 & I.A. No. 912/2023.

The urgency applications have been filed by the Bank and the auction purchasers on the ground that the Bank, borrowers and the auction purchasers have entered into compromise, according to which the borrowers have agreed to forgo their right from the property which has been sold under the SARFAESI proceedings and have also agreed that the auction sale may continue and also the borrowers have agreed to deposit Rs. 90.00 lacs, therefore, urgency applications have been moved for preponing the date.

In view of the aforesaid, the aforesaid urgency applications are allowed and the date already fixed in these matters for 10.01.2024 is preponed to 21.12.2023.

Justice R. D. Khare Chairperson