The DeBts Recovery Appellate Tribunal adjourned a sale pending confirmation in a special leave petition filed by the appellant homeowner against the respondent bank, directing acceptance of bids and non-confirmation for two weeks while curing defects in the reply.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
Appeal on Diary No. 200/2023
Between
M/s. Phoenix Realtor Pvt. Ltd. … Appellant/s V/s.
Punjab National Bank …Respondent/s
Mr Ismail Nasikwala, Advocate for Appellant.
Mr Bhavesh Poojary, i/b M/s. MDP Partners, Advocate for Respondent
-: Order dated: 10/02/2023:-
The matter is taken up for hearing by way of Praecipe filed by the Appellant seeking urgent relief.
The Ld. Counsel appearing for the Appellant submits that he has a purchaser who is ready to offer an amount much more reserve price fixed price for secured assets. It submits that the sale stands scheduled for the 15th of March, 2023.
In view of the urgency expressed, the matter is adjourned with a direction that auction bids may be accepted and the sale conducted, but the sale shall not be confirmed for two weeks from today.
The defects in the reply pointed out by the office shall be cured.
Post on 27.02.2023 for hearing.
Sd/Chairperson
psa-06
1
M/s. Phoenix Realtor Pvt. Ltd.
Punjab National Bank
Ashok Menon
As recorded by the court registry
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