Quashed
Phoenix Arc Private Limited v. Shankarrao Bajirao Shelke and Anr.
DRATIA/259/2023
Case brief
AI extract
What is this about?
In a stay application, the appellate tribunal observed that an order granting a 7-month extension for payment of balance sale price violated the 3-month ceiling under Rule 9(4) of the Security Interest (Enforcement) Rules, 2002, labeling it unsustainable and directing a stay of its operation.
What did the court decide?
Stay of the operation of the impugned order passed by D.R.T. Pune.