Applicant sought stay on scheduled sale and amendment to substitute Respondent Bank with ARC. Court dismissed stay as infructuous and allowed amendment pending further proceedings.
Stay application dismissed; Amendment IA allowed.
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.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 550/2023 (Stay)
And I.A. No. 401/2023 (Amendment)
In
Appeal No. 43/2023
Between
Ajit B Kerkar … Appellant/s V/s.
Yes Bank & Anr. …Respondent/s
Mr. Puneet Gogad along with Daksh A Parmar, i/b Mr. Ashok M. Saraogi, Advocate for Applicant/ Orig. Appellant.
Mr. Sidharth S along with Mr. Priyansh Jain, i/b M/s. Apex Law Partners, Advocate for Respondent No.1
-: Order dated: 11/08/2023:-
The matter is taken up for hearing by way of a praecipe filed by the Appellant for seeking urgent relief.
I.A. 550/2023 is an application for stalling the sale which is scheduled to take place today. The Ld. Counsel appearing for Respondent Bank submits that there are no bidders and hence, the sale is not likely to take place today.
Hence, the I.A. being infructuous, is disposed of.
I.A. No. 401/2023 is for substituting the 1st Respondent Bank with the ARC to which the debt was assigned.
The application is formal in nature and there is no objection forthcoming. Hence, the application is allowed and the amendment shall be carried out. The contentions of all parties are kept open. Post on 24.08.2023 before the Registrar
Sd/-
Chairperson
psa-06
1
3 issues framed by the court
Whether to allow amendment of respondent name to ARC for assigned debt.
Whether stay application is infructuous.
Whether to allow urgent relief for stalling sale.
Ajit B Kerkar
Yes Bank & Anr
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
