Bank of Baroda v. K R Agro Industries
Case brief
What is this about?
Appeal against interim order directing status quo pending securitization application. Court disposed appeal allowing interim application and fixing timelines for disposal.
What did the court decide?
Liberty to file interim application within 15 days; appeal disposed finally.
What the court decided
A compact analysis
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Appeal Dy. No. 1470/2024 Date: 05.11.2024
Bank of Baroda Vs. K. R. Agro Industries
Present: Shri Maneesh Mehrotra, counsel for the appellantBank, Shri V. K. Shukla, counsel for the respondent,
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 19.07.2024 passed by the Tribunal below in S.A. No. 04/2024, whereby the parties have directed to maintain the status quo with regard to the property in question.
After hearing the learned counsel for the appellant and considering the facts and circumstances of the case, since the securitization application is still pending before the Tribunal below, therefore, the present appeal stands disposed off finally with liberty to the appellant to move an appropriate application for redressal of his grievances within 15 days from today. In case the appellant files an interim application before the Tribunal below within the stipulated period, the same shall be considered and decided preferably on the same day or within 15 days thereafter and the S.A. itself may be decided most expeditiously preferably within four months from the date of production of certified copy of this order.
Justice R. D. Khare Chairperson
Anupam
Parties & counsel
- appellant
Bank of Baroda
- respondent
K. R. Agro Industries
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · November
- CNR
- 091090014702024
- Topic
- Banking and Recovery
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