Deviprasad Steel and Services LLP v. Punjab National Bank

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

I.A. No.185/2022 (WoD) In Misc. Appeal No. 64/2022

Between

Deviprasad Steel and Services LLP … Appellant/s V/s.

Punjab National Bank …Respondent/s

Mr Gaurang Kinkhabwala i/b Mr Puneet Gogad, Advocate for Appellant.

Mr Punkaj Vijayan, i/b M/s. Intralegal, Advocate for Respondent Bank.

-: Order dated: 17/02/2023:-

The Misc. Appeal is filed by the Appellant impugning the order dated 09.02.2022 of the Debts Recovery Tribunal-II, Mumbai in S.A. No.08/2015 wherein the Ld. Presiding Officer declined to grant any interim relief in favour of the Appellant against the Sarfaesi measures initiated by the Respondent. It is submitted that the property has already been sold and the auction purchaser has deposited the entire amount and the sale certificate has been issued and registered in his favour, and he is awaiting to get possession of the property since 2022. Hence, he is also anxious to see that the appeal, as well as S.A., is disposed of expeditiously.

1. The Ld. Counsel appearing for the Appellant submits that he has deposited 25% amount of the amount in accordance with the order of the Hon’ble High Court passed during the period when