The DT Appellate Tribunal stayed the lower court's order directing restoration of secured assets to the borrower until the appeal is decided, allowing the Appellant to remain in possession.
The interim order directing restoration of possession of secured assets to the borrower is stayed pending the disposal of the appeal.
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. 583/2023 (Stay)
In Appeal No. 11/2022
Between
Rare Asset Reconstruction Ltd. … Appellant/s
V/s.
Official Liquidator of Polo Ceramics Pvt. Ltd. …Respondent/s Mr. Prakash Shinde along with Bhavesh Poojary, i/b M/s. MDP & Partners, Advocate for Appellant.
-: Order dated: 28/08/2023:-
The matter is taken up for hearing by way of a praecipe filed by the Appellant for seeking urgent relief.
1
I.A. No. 583/2023 is allowed.
Post on 06.11.2023 for hearing the Appeal
Sd/Chairperson
psa-10-
2
1 issue framed by the court
Whether the impugned order restoring possession of secured assets to the borrower can be stayed pending appeal.
Rare Asset Reconstruction Ltd.
Official Liquidator of Polo Ceramics Pvt. Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
