Canara Bank v. Sarvjeet Singh and Anr.
Case brief
What is this about?
The Single Judge dismissed the appeal filed by Canara Bank under Section 18 of the SARFAESI Act against an interim status quo order. The court held that since the securitization application is pending before the Tribunal, an alternative remedy exists before the Tribunal, leading to the final disposal of the appeal.
What did the court decide?
The appeal was finally disposed of with the appellant being directed to approach the Tribunal for redressal of grievances via appropriate application.
Appeal Dy. No. 580/2024 Date: 04.10.2024
Canara Bank Vs. Sarvjeet Singh & Anr.
Present: Shri Abhishek Mishra, 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 27.02.2024 passed by the Tribunal below in S.A. No. 911/2022, whereby the status quo order has been granted with regard to the physical possession of the property in question.
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 against the interim order.
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 an alternate remedy exists for the appellant to challenge the interim status quo order issued by the Tribunal while the securitization application is pending.
Whether the present appeal filed under Section 18 of the SARFAESI Act should be disposed of considering the pendency of the securitization application.
Parties & counsel
- appellant
Canara Bank
- respondent
Sarvjeet Singh & Anr.
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · October
- CNR
- 091090005802024
- Topic
- Banking and Recovery
Similar cases
Judgements on the same questions, provisions and authorities, from every court