bharat flour mill and Anr. v. Bank of Baroda and Anr.
Case brief
What is this about?
This court disposed of an appeal filed under Section 18 of the SARFAESI Act, holding that the appellant has a remedy pending the resolution of a securitization application before the lower Tribunal, thus rendering the appeal unnecessary.
What did the court decide?
The present appeal is finally disposed off as an adequate remedy is available before the Tribunal below regarding the pending securitization application.
What the court decided
Appeal Dy. No. 1563/2024 Date: 08.11.2024
Bharat Flour Mills & Anr. Vs. Bank of Baroda & Anr.
Present: Shri B. K. Kesharwani, counsel for the appellants,
Heard the learned counsel for the appellants.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 07.10.2024 passed by the Tribunal below in S.A. No. 162/2024, whereby the urgency application has been allowed and notices have been issued to the respondents.
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, therefore, there is remedy open to the appellant by filing appropriate application for redressal of his grievances 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 preferably on the same day or within a week thereafter.
In view of the aforesaid, the present appeal is finally disposed off.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
2 issues framed by the court
Whether the present appeal filed under Section 18 of the SARFAESI Act should be allowed given the pending securitization application before the Tribunal.
Whether the urgency application and notice issuance by the Tribunal below warrants the disposal of the current appeal.
Parties & counsel
- appellant
Bharat Flour Mills & Anr.
- respondent
Bank of Baroda & Anr.
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · November
- CNR
- 091090015632024
- Topic
- Banking and Recovery
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