DrAT refused to defer the auction scheduled for 17.08.2023, allowing the appellant to participate in the auction and submit a bid by 11.08.2023 subject to the appeal's outcome.
Appellant granted liberty to participate and submit bid by 11.08.2023; sale subject to appeal outcome.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson Appeal on Diary No. 1195/2023
Between
Asteroid Shelter Homes Pvt. Ltd. … Appellant/s V/s.
Assets Reconstruction Company (India) Ltd. & Ors. …Respondent/s Senior Counsel Mr Umesh Shetty along with Ms Fatima Lakdawala, Mr Prerak Choudhary and Ms. Anisha Balse, i/b Mr Prerak Choudhary, Advocate for Appellant.
Senior Counsel Mr Tushad Cooper along with Mr Bhalchandra Palav and Mr Amit Dighe, Advocate for Respondents Nos. 1 & 2. Ms Barsha Parulekar, Advocate for Official Liquidator.
Mr Rajesh Nagory, i/b Ms Sanjana Ghogare, Advocate for Intervener.
-: Order dated: 09/08/2023:-
Heard the appeal and reserved for orders. The Ld. Counsel appearing for the Appellant submits the acceptance of the bid for the auction sale is to be accepted till 11.08.2023, and the auction sale scheduled to be held on 17.08.2023 be kept in abeyance till the orders are pronounced in this appeal.
Presiding Officer and specific directions given to the Recovery Officer to pass a balanced order were flouted and a public auction was ordered by the Ld. R.O. Though the Ld. P.O. found fault with the order of the Ld. R.O. for having flouted the earlier order, the proposal to go for a fresh auction ignoring the private treaty was approved in the impugned order.
2
Post on 29.08.2023 for orders.
Sd/Chairperson
rm-16
3
1 issue framed by the court
Whether the sale scheduled under Section 13(8) of the SARFAESI Act should be deferred pending the outcome of the appeal.
Asteroid Shelter Homes Pvt. Ltd.
Assets Reconstruction Company (India) Ltd.
Ashok Menon
As recorded by the court registry
7 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
