Appeal filed under Section 18 of SARFAESI Act against an interim order calling for the Bank's reply on interest levy. Court dismissed the appeal noting the main application is pending and remedy lies before the Tribunal.
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Appeal Dy. No. 907/2023 Date: 13.12.2023
Banwari Lal Bansal & Ors. Vs. Kotak Mahindra Bank Ltd.
Present: Shri Anirudh Pandey, counsel for the appellant,
Heard the learned counsel for the appellants.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 25.05.2023 passed by the Tribunal below in S.A. No. 689/2022, by which the reply of the Bank has been called for by the Tribunal below on the averment of the S.A.-applicant that the rate of interest has been incorrectly levied.
After hearing the learned counsel for the appellant and considering the facts and circumstances of the case, this court is of the opinion that there is no good ground made out for interfering in the order impugned as the securitization application is still pending before the Tribunal below and only reply is called for, therefore, there is remedy open to the appellant by filing appropriate application for redressal of his grievances, if any, before the Tribunal below.
In view of the aforesaid, the present appeal is finally disposed off.
Justice R. D. Khare Chairperson
Anupam
2 issues framed by the court
Whether the interim order calling for the bank's reply in pending securitization proceedings is subject to interference under section 18 of the SARFAESI Act.
Whether there are grounds to interfere with an order pending before the Statutory Tribunal.
1 provisions across 1 enactments
Banwari Lal Bansal & Ors.
Kotak Mahindra Bank Ltd.
R. D. Khare
As recorded by the court registry
4 orders share this CNR
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