Canara Bank versus Sony Surgicare and Ors.

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

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I.A. No. 785/2023 (Stay)

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Appeal on Diary No. 2079/2023 Between

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Canara Bank … Appellant/s V/s. M/s. Sony Surgicare & Ors. …Respondent/s Ms. Vaishali Bhilare, Advocate for Appellant.

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The matter is taken up for hearing by way of a praecipe filed by the Appellant for seeking urgent relief.

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The Appeal is filed challenging the Judgment/order dated 16.10.2023 in Securitization Application (S.A.) No. 386/2018 on the files of the Debts Recovery Tribunal-II, Ahmedabad (D.R.T.) whereby the S.A. was allowed in part, and the auction sale which was conducted by the Appellant bank on 29.10.2018 was set aside and the Appellant was directed to refund the amount deposited toward the sale consideration by the 2^nd Respondent, together with the interest.

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The Appellant bank contends that there was no specific prayer in the S.A. for setting aside the sale. Therefore, the sale could not have been set aside, particularly because the challenge regarding the notices issued u/s 13 (2) and 13 (4) have been declined by the D.R.T. and without there being a prayer for setting aside the sale, the sale could not have been set aside.

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1

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Notice has been served on the Respondents but they have yet to appear. Respondents Nos. 1 and 4 have been served. Given the submission made by the Ld. Counsel appearing for the Appellant, there shall be an interim stay of the impugned order setting aside a sale.

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The appeal shall be taken on file if there are no defects to be cured.

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Await appearance of the Respondent, adjourned to 19.01.2024 before the Registrar.

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Sd/Chairperson

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psa-32

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2

Canara Bank v. Sony Surgicare and Ors.

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Canara Bank v. Sony Surgicare and Ors.

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