Punjab National Bank v. Amzad Hussain

Appeal Dy. No. 555/2022 Date: 29.05.2023

Punjab National Bank Vs. Amzad Hussain

Present: Shri S. K. Pandey, counsel for the appellant, Shri Anuj Mandhyan, counsel for the respondent nos. 1 & 2, Shri N. K. Dwivedi, counsel for the respondent no. 3, Shri Shashank Johri, respondent no. 4- In person

Heard the learned counsels for the parties.

Learned counsel for the respondent nos. 1 & 2 submits that they are ready to deposit the entire amount along with expenses with the bank as the auction sale conducted by the Bank has been set aside by the Tribunal below, but the Bank is exerting undue pressure on the said respondents for taking physical possession of the property in question. It is, therefore, prayed that the interest of the said respondents may be protected.

Learned counsel for the appellant submits that the order setting aside the auction sale has been challenged by way of the present appeal, therefore, the amount, which is being offered by the said respondents, cannot be accepted. If they make an offer to the appellant-Bank as stated by them regarding payment of entire dues, the appellant-Bank may consider the same by passing appropriate order as per law most expeditiously preferably within fortnight from the date of filing of such application. Learned counsel for the respondent nos. 1 & 2 submits that such offer will be made within 48 hours.

In view of the above, it is provided that no coercive action shall be taken by the bank till the Bank decides the application of the said respondents, if so made. However, if no such application is moved by the said respondents within