M/s Samarth Medical Stores appealed an interim order under Section 18 of the SARFAESI Act. The court dismissed the appeal as the ongoing securitization application before the DRT provided an adequate remedy.
The appeal was disposed off with no relief granted.
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Appeal Dy. No. 1249/2023 Date: 02.11.2023
M/s Samarth Medical Stores Vs. Bank of India
Present: Shri V. K. Shukla, counsel for the appellant,
Heard the learned counsel for the appellant.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 13.09.2023 passed by the Tribunal below in S.A. No. 771/2023, whereby the interim relief has been granted subject to deposit as indicated in the order impugned, against which the present appeal has been filed and the S.A. is still pending consideration before the DRT concerned.
After hearing the learned counsel for the appellant and considering the facts and circumstances of the case, this court is of the opinion that since the securitization application is still pending before the Tribunal below, therefore, there is remedy open to the appellant by filing appropriate application for redressal of his grievances before the Tribunal below against the interim order. If such application is filed, this Tribunal has no doubt that the Tribunal below shall consider and decide the same in accordance with law most expeditiously.
In view of the aforesaid, the present appeal is finally disposed off.
Justice R. D. Khare Chairperson
Anupam
1 issue framed by the court
Whether the appeal under Section 18 of the SARFAESI Act lies against the Tribunal's interim order pending consideration of the main stay application.
1 provisions across 1 enactments
M/s Samarth Medical Stores
Bank of India
R. D. Khare
As recorded by the court registry
3 orders share this CNR
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