Disposed

State Bank of India v. Ranjeet Seeds Rep by its prop Sri Katturi Gangadhar

DRAT21 Sept 2023REGULAR APPEAL/84/2023

Case brief

AI extract

What is this about?

This interim order grants a stay on an impugned order allowing a SARFAESI application pending appeal. The court also issues a stay on further proceedings by the bank and sets timelines for filing written submissions in the main appeal.

What did the court decide?

Stay on operation of the impugned order and direction to not proceed further in the matter.

State Bank of India versus Ranjeet Seeds Rep by… — Contract and Commercial Disputes | DRAT (2023)

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

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Appeal No. 84 of 2023

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THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA

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CHAIRPERSON

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21.09.2023	State Bank of India … Appellant -Vs- Ranjeet Seeds & Another ... Respondents
	Ms. Mekhala Kanji, Learned Counsel for the Appellant
	Mr. Nemani Srinivas, Learned Counsel for Respondent No. 1
	Mr. Suryaneel Das, Counsel for Respondent No. 2

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THE APPELLATE TRIBUNAL :

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I.A. 218 of 2023

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Application for stay of operation of the impugned order dated 9^th May, 2022 passed b y Learned DRT-I, Hyderabad allowing SARFAESI Application No. 111 of 2020.

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Respondents No. 1 and 2 are represented through respective Learned Counsel.

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Heard the Learned Counsel for the parties and perused the recored.

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Learned DRT has allowed the SARFAESI Application and also issued a direction to the Appellant Bank to refund the bid amount deposited by Respondents No. 2 with interest.

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Learned Counsel for Appellant submits that the impugned order suffers from illegality and is erroneous. It is further submitted that if the impugned order is not stayed, appeal would become infructuous.

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Having considered the submissions made by the parties, I find the ground sufficient that there are issues which are to be considered. In these circumstances operation of the impugned order dated 9^th May, 2022 shall remain stayed till disposal of the appeal.

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I.A. 218 of 2023 stands disposed of.

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Respondents may file opposition to the appeal within four weeks with copy to the Appellant who may file rejoinder, if any, within two weeks thereafter.

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List on 11^th January, 2024 for hearing of the appeal.

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It is also expected from the Bank not to proceed further in the matter.

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(Anil Kumar Srivastava,J) Chairperson

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Dated 21^st September, 2023 16/ac

State Bank of India v. Ranjeet Seeds Rep by its prop Sri Katturi Gangadhar

Case brief

What is this about?

What did the court decide?

State Bank of India v. Ranjeet Seeds Rep by its prop Sri Katturi Gangadhar

Case brief

What is this about?

What did the court decide?

What the court decided

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