This is an appeal under Section 18 of the SARFAESI Act against an interim order by the DRT, Allahabad restraining the financial institution from taking possession. The Tribunal found no legal infirmity but directed the DRT to decide the underlying suit expediently.
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Appeal Dy. No. 768/2023 Date: 18.07.2023
SMFG India Credit Company Ltd. Vs. K. S. Footwears & Ors.
Present: Shri Ashish Melhotra, 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 26.04.2023 passed by the DRT, Allahabad in S.A. No. 285/2023, whereby the financial institution has restrained from taking physical possession of the property in question.
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, Allahabad to consider and decide the S.A. No. 285/2023 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
1 issue framed by the court
Whether there is a legal infirmity in the interim order restraining the financial institution from taking physical possession of the property.
1 provisions across 1 enactments
SMFG India Credit Company Ltd.
K. S. Footwears & Ors.
R. D. Khare
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
