This appeal against an interim stay order by the DRT Jabalpur was disposed of by the Appellate Tribunal. Finding no legal infirmity, the Tribunal dismissed the appeal and directed the DRT to decide the pending security application expeditiously.
Appeal dismissed; Direction to consider and decide S.A. No. 214/2023 within three months.
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Appeal Dy. No. 651/2023 Date: 12.07.2023
Sardar Harjinder Singh Bindra & Ors. Vs. Central Bank of India
Present: Shri V. K. Shukla, 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 interim order dated 09.05.2023 passed by the DRT, Jabalpur in S.A. No. 214/2023.
The report of the Registrar dated 11.07.2023 shows that the urgency application being I.A. No. 546/2023, waiver application being I.A. No. 422/2023 and stay application being I.A. No. 547/2023 have been filed. The report further records that after issuance of demand notice, more than 25% of the outstanding due has already been deposited and further amount of Rs. 12.00 lacs has been deposited with the Bank on 25.03.2023.
Since the matter has been taken up today, therefore the urgency application being I.A. No. 546/2023 has become infructuous and is disposed off as such.
By way of the impugned interim order, the order dated 31.01.2023 of the ADM with regard to the possession has been kept in abeyance by the Tribunal below subject to deposit of Rs. 1.50 crores by the appellant in six equal installments within three months. The S.A. is still pending before the Tribunal below.
After hearing the learned counsel for the appellant, this Tribunal finds no legal infirmity in the impugned order passed
by the Tribunal below, which may warrant any interference by this Appellate Tribunal. Accordingly, the appeal is finally disposed off with direction upon the Presiding Officer, DRT, Jabalpur to consider and decide the S.A. No. 214/2023 in accordance with law most expeditiously, preferably within three months from the date of production of certified copy of this order.
Justice R. D. Khare Chairperson
Anupam
2 issues framed by the court
Whether the impugned interim order of the Debt Recovery Tribunal warrants interference by the Appellate Tribunal.
Whether the appeal filed under section 18 of the SARFAESI Act has any legal infirmity.
1 provisions across 1 enactments
Sardar Harjinder Singh Bindra & Ors.
Central Bank of India
R. D. Khare
As recorded by the court registry
3 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
