Appeal against a stay application regarding a bank account freeze by the Recovery Officer. The court disposed of the interim application granting liberty to approach the Tribunal, listing the main matter for further hearing.
Stay application disposed off; liberty to move appropriate application before the Tribunal below.
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Regular Appeal No. 172/2018 Date: 10.04.2023
Yashwant Singh & Ors. Vs. UCO Bank
Present: Shri Kartikey Saran, counsel for the appellants, Shri P. K. Gupta, counsel for the respondent-Bank,
Heard the learned counsels for the parties on the stay application being I.A. no. 173/2023.
Learned counsel for the appellant has drawn attention of this Court to the earlier order dated 03.03.2023, whereby it was argued on behalf of the appellant that the appellant is a senior citizen and two loans were granted by the Bank, one for Rs. 45.00 lacs and another for Rs. 13.00 lacs, thereafter the total amount of Rs. 80.00 lacs excluding pre-deposit was deposited till 2014. Therefore, the money is to be returned to the appellant, but the Recovery Officer has passed the order freezing the Bank account of the appellant without any reason and it is contended that the submission in this regard made before the P.O./R.O. has not been considered.
Be that as it may, the present application being I.A. No. 173/2023 stands disposed off with liberty to the appellant to move appropriate application before the Tribunal below for redressal of his grievance, as raised in the present application. If such application is moved, the same shall be considered and decided by the Tribunal below in accordance with law most expeditiously preferably within a month from the date of production of certified copy of this order.
List this case on 05.07.2023 for further hearing.
Justice R. D. Khare Chairperson
VN Giri
2 issues framed by the court
Whether to grant stay on the order passed by the Recovery Officer freezing the appellant's bank account?
Whether the appellant, a senior citizen, should be refunded to his bank account given his deposit status?
Yashwant Singh & Ors.
UCO Bank
R. D. Khare
VN Giri
As recorded by the court registry
19 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
