Canara bank v. Vijay Veer Singh

Appeal Dy. No. 409/2024 Date: 18.04.2024

Canara Bank Vs. Vijay Veer Singh

Present: Shri Maneesh Mehrotra, counsel for the appellant, Shri D. N. Awasthi, counsel for the respondent,

Heard the learned counsels for the parties.

The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 26.02.2024 passed by the Tribunal below in S.A. No. 17/2023, whereby the status quo order has been granted in favour of the borrower observing that no clear 15 days’ sale notice has been given to the borrower pursuant to the sale notice, which is violation of Rule 9(1) of the Security Interest (Enforcement) Rules, 2002.

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.

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

Justice R. D. Khare Chairperson

Anupam