Court disposed of an urgency and stay application regarding the auction of a guarantor's property, directing the appellant to pursue a before the Tribunal for expedited consideration.
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Appeal Dy. No. 18/2020 Date: 02.01.2023
Sharvan Kumar Shukla Vs. Bank of Baroda & Ors.
Present: Shri D. N. Awasthi, counsel for the appellant, Shri Maneesh Mehrotra, counsel for the respondent-Bank,
Heard the learned counsel for the parties on the urgency application being I.A. No. 739/2022 and stay application being I.A. No. 740/2022.
Learned counsel for the appellant submits that 10.01.2023 is a date fixed for sale of the property of the appellant, who is guarantor in the proceedings of DRC No. 828/2019. It is alleged that a fraud was committed by the then Manager of the respondent-Bank, against whom action has been taken and his services have been terminated by the Bank, but now the respondent-Bank in hurriedly and fraudulently trying to get the property of the appellant sold. It is further submitted that the Recovery Officer has already published the sale notice in the newspapers scheduling the auction of the property of the appellant, therefore, it is prayed that the present expedite application may be allowed and the date already fixed for 07.02.2023 may be preponed today and hear the stay application.
Learned counsel for the respondent-bank submits that against the sale proclamation issued by the Recovery Officer for auction sale of the property on 10.01.2023, the appellant has drawn two parallel proceedings, one by filing an appeal before the Tribunal below under section 30 of the RDB Act and another by filing the present application being I.A. No. 740/2022 before this Tribunal, therefore, the application filed by the appellant seeking interim relief may be rejected.
Be that as it may, the appellant may pursue the appeal already filed before the Tribunal below. If the appellant, who is guarantor, is interested to redeem his property, he may move appropriate application before the Tribunal below in accordance with law. If any application is moved by the appellant before the Tribunal below, the same may be considered and decided most expeditiously in accordance with law.
In view of the aforesaid, the urgency application as well as stay application moved by the appellant stands disposed off.
List this case on the date already fixed i.e. 07.02.2023.
Justice R. D. Khare Chairperson
Anupam
1 issue framed by the court
Whether an urgency and stay application regarding the auction of a guarantor's property can be allowed pending an appeal before the Tribunal.
1 provisions across 1 enactments
Sharvan Kumar Shukla
Bank of Baroda
R. D. Khare
As recorded by the court registry
16 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
