M/S Ski and Snow Resorts Pvt. Ltd. and Others v. Punjab National Bank

Appeal Dy. No. 945/2022 Date: 03.02.2023

M/s Ski and Snow Resorts Pvt. Ltd. & Ors. Vs. Punjab National Bank

Present: Shri Udai Chandani, counsel for the appellants, Shri Awadhesh Kumar Pal, counsel for the respondent-Bank,

Learned counsel for the appellants contends that the properties attached by the order dated 11.10.2022, were mortgaged in the second loan account of M/s Rangers Lodges, which have been released by the Bank itself and the same are not mortgaged as a collateral and there was no prayer for attachment of the said properties, therefore, the order impugned is bad in law.

Learned counsel for the respondent-Bank contends that the decree is already there and to ensure that the decree is not frustrated, therefore, the property in question has been attached before the judgment. The learned counsel further submits that the application for said attachment is to be brought on record, hence he seeks time for filing reply as well as the copy of the application for attachment filed before the Tribunal below by the next date.

Learned counsel for the appellant further submits that the matter is still pending before the Tribunal below and is listed on 06.02.2023 and the Presiding Officer is going to decide the matter on that date, therefore, it is prayed that the proceedings before the Tribunal below may be stayed till the disposal of the present appeal.

Be that as it may, the proceedings before the Tribunal below may go-on, but the final order may not be passed till the next date of listing.

List this case on 16.02.2023 for waiver.