Bank of Baroda v. LIC Housing Finance Ltd.

Appeal Dy. No. 116/2024 Date: 12.02.2024

Bank of Baroda Vs. LIC Housing Finance Ltd.

Present: Shri Maneesh Mehrotra, 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 21.11.2023 passed by the Tribunal below in S.A. No. 319/2023, whereby it has been directed by the Tribunal below that if the applicant is in possession of the mortgaged property without permission of the respondent-Bank, the respondent-Bank shall clarify as to what action has been taken by the respondent-Bank in relation to the said action for the last 5 years.

After hearing the learned counsel for the appellant and considering the facts and circumstances of the case, this court is of the opinion that since the securitization application is still pending before the Tribunal below and vide order impugned, the appellant-Bank has been asked to clarify the position with regard to the action taken by the appellant, which is yet to be done by it. Hence, there is remedy open to the appellant by filing appropriate application for redressal of his grievances, if any, before the Tribunal below. If such application is filed, this Tribunal has no doubt that the Tribunal below shall consider and decide the same in accordance with law most expeditiously.

In view of the aforesaid, the present appeal is finally disposed off.

Justice R. D. Khare Chairperson

Anupam