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Parul Vedant versus Canara Bank — Insolvency and Bankruptcy | DRAT (2023)

Home
DRAT
2023
Parul Vedant versus Canara BankParul Vedant v. Canara Bank

Dismissed

Parul Vedant v. Canara Bank

DRAT6 Jun 2023IA/274/2023

Case brief

AI extract

What is this about?

Dr.搁置分期付款抵押追索案被驳回，因为两个上诉人在某案件中未被听到。

What did the court decide?

No interim relief was granted as the filing for setting aside the ex-parte order was not capable of being disposed of immediately.

What the court decided

AI extract

A

BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson

I.A. No. 272/2023 (Stay)
In
Appeal No. 23/2023
Between
Pradeep Vedant … Appellant/s
V/s.
Canara Bank …Respondent/s
AND
I.A. No. 273/2023 (Stay)
In
Appeal No. 24/2023
Between
Darshan Bheda … Appellant/s
V/s.
Canara Bank …Respondent/s
AND
I.A. No. 274/2023 (Stay)
In
Appeal No. 25/2023
Between
Parul Vedant … Appellant/s
V/s.
Canara Bank …Respondent/s
AND

1

I.A. No. 275/2023 (Stay)

Appeal No. 26/2023

In

Between

… Appellant/s

Devendra Vedant V/s.

…Respondent/s

Canara Bank

Issues for consideration

1 issue framed by the court

AI extract

1.
Whether to grant interim relief to stay the impugned order during pendency of NCLT proceedings under IBC

Statutes considered

1 provisions across 1 enactments

AI extract

enforcement-of-secured-assetsnull

Parties & counsel

AI extract

appellant
Pradeep Vedant
appellant
Darshan Bheda
appellant
Parul Vedant
appellant
Devendra Vedant
respondent
Canara Bank

Case details

As recorded by the court registry

Court: DRAT
Decided on: 6 Jun 2023 · June
Case no.: IA/274/2023
CNR: 271090004992023

All orders in this case

2 orders share this CNR

6 Jun 2023Order 1 — this page · Ashok Menon
11 Oct 2023Order 2 · Ashok Menon

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Cite this judgement

Parul Vedant v. Canara Bank, IA/274/2023 (DRAT), decided on 6 June 2023.

The Debt Recovery Appellate Tribunals publishes no neutral citation for this judgement — cite it by case number and date of decision.

Statutes1

enforcement-of-secured-assetsnull

View all statutes

Bench / Coram

Ashok Menon

Parties & counsel

Outcome

No interim relief was granted as the filing for setting aside the ex-parte order was not capable of being disposed of immediately.

Issue for consideration

Whether to grant interim relief to stay the impugned order during pendency of NCLT proceedings under IBC

Detailed headnote1 paragraphs

The Debts Recovery Appellate Tribunal refused to grant interim relief staying the impugned order. The court observed that since NCLT proceedings regarding the Insolvency and Bankruptcy Code matter were pending, Sarfaesi measures could not be proceeded against secured assets. Thus, interim reliefs were not necessary at this stage.

A compact analysis

This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.

Mr. Deepan Dixit along with Chimayee Ghag, i/b M/s. Zastriya, Advocate for Appellants.

-

Ms Vaishali R. Bhilare, Advocate for Respondents.

-: Common Order dated: 06/06/2023:-

These appeals are posted for the ex-parte hearing today.

The Ld. Counsel appearing for Respondent Bank in all these appeals states that an application for setting aside ex-parte order passed against them has been filed which is to be placed before the Bench.

The Ld. Counsel appearing for the Appellant seeks to hear the application to stay the impugned order. It is submitted by the Ld. Counsel appearing for the Respondent Bank, as also revealed from the impugned order that the NCLT proceedings in the IBC matter which is pending before the said Tribunal and therefore, there is no possibility of the Sarfaesi measures being proceeded with against the secured assets as of now. Hence, I do not find it necessary to grant any interim reliefs at this stage. The application for setting aside ex-parte, if filed, and in order, shall be placed before the Bench.

Post on 03.07.2023 for hearing.

Sd/-

Chairperson

mks-13to15

2

Coram

AI extract

Ashok Menon

Topic

Insolvency and Bankruptcy

Bench

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6 Jun 2023

Bholenath Industries and Ors. versus Punjab National Bank

6 Jun 2023