M/ S Silver Paper Mills P Ltd. v. a R S E C India Ltd. and Ors.
Case brief
What is this about?
The Tribunal disposed of an appeal filed under section 18 of the SARFAESI Act, against an order where the DRT set aside the DM's order and directed security deposit by borrower.
What did the court decide?
The appeal stands disposed off.
What the court decided
Appeal Dy. No. 561/2022 Date: 11.05.2023
M/s Silver Paper Mills Pvt. Ltd. Vs. ARSEC India Ltd. & Ors. 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 final order dated 20.05.2022 passed by the DRT, Jabalpur in S.A. No. 85/2021, whereby the order of the District Magistrate under section 14 of the SARFAESI Act has been set aside and the borrower has been directed to deposit Rs. 50.00 lacs with the respondent-Bank.
After hearing the learned counsel for the appellant, this court is of the opinion that there is no good ground made out by the appellant, which may warrant any interference of this Tribunal in the order impugned. However, the appellant may take legal remedy open to him for his grievances, which he may have, if so desired.
In view of the above, the appeal stands disposed off.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
1 issue framed by the court
Whether the appeals against the final DRT order setting aside the recovery objection case order under section 14 of the SARFAESI Act is sustainable.
Parties & counsel
- appellant
M/s Silver Paper Mills Pvt. Ltd.
- respondent
ARSEC India Ltd.
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
16 orders share this CNR
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