Punjab National Bank v. Arbab Siddiqui

Appeal Dy. No. 805/2023 Date: 13.07.2023

Punjab National Bank Vs. Arbab Siddiqui

Present: Shri S. K. Pandey, 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 25.04.2023 passed by the DRT, Allahabad in S.A. No. 137/2023, whereby the Bank has been restrained from taking physical possession of the secured asset. It has been contended that the amount as mentioned in the demand notice and the amount claimed before the A.D.M. are the same, but the Bank has admitted that outstanding amount before the Tribunal is Rs. 33,26,037/- plus expenses etc. The S.A. is still pending consideration before the Tribunal below.

Be that as it may, the present appeal is finally disposed off with direction upon the Presiding Officer, DRT, Allahabad to consider and decide the S.A. No. 137/2023 in accordance with law most expeditiously, preferably within three months from the date of production of certified copy of this order. It is made clear that the parties shall not seek adjournment unnecessarily.

Justice R. D. Khare Chairperson

Anupam