Punjab National Bank v. Ms Avni Steels

Appeal Dy. No. 710/2023 Date: 10.07.2023

Punjab National Bank Vs. Ms. Avni Steels

Present: Shri Praveen Dwivedi, 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 final order dated 24.05.2023 passed by the DRT, Lucknow in R.A. No. 06/2021 filed in S.A. No. 267/2019. The report of the registrar dated 22.06.2023 shows that the I.A. No. 470/2023 being urgency application has been filed.

Since the matter has been taken up today, therefore, the same has become infructuous and is disposed off as such.

The order dated 04.07.2023 passed by the Hon’ble Allahabad High Court, Lucknow Bench, Lucknow in matters under Article 227 No. 3329/2023 has been placed before this Tribunal, whereby this Tribunal has been directed to decide the I.A. No. 739/2023, which is now numbered as I.A. No. 470/2023 and I.A. No. 794/2023, which is now numbered as I.A. No. 525/2023. Since the matter has been taken up today, therefore, the urgency application being I.A. No. 739/2023 (I.A. No. 470/2023) has become infructuous and is disposed off as such.

Learned counsel for the appellant submits that vide order impugned, the Tribunal below has directed the Bank to release the title deed of the property situated at plot no. 351, Loha Mandi, Industrial Area, Site No. 1, BSR, Industrial Area, Ghaziabad to the S.A. applicant. It is further submitted that the OTS amount of Rs. 10.57 crores has been deposited by the S.A.-applicant, although it has been deposited belatedly. It is also not disputed that an amount of Rs. 34.00 lacs is due