M/S R.B. Overseas and Others v. State Bank of India

Appeal Dy. No. 1618/2023 Date: 21.02.2024

M/s R. B. Overseas & Ors. Vs. State Bank of India

Present: Shri Anirudh Pandey, counsel for the appellant, Shri P. K. Srivastava, counsel for the respondent-Bank, None for the respondent-Auction Purchaser,

Heard the learned counsels for the parties.

Learned counsel for the appellants submits that the matter may be remanded back and a direction may be issued to the Tribunal below to decide the S.A. 407/2022 most expeditiously, as notice for possession has been issued and the possession is likely to be taken on 05.03.2024. Learned counsel further submits that the demand draft of Rs. 31.00 lacs has been made and is presenting before this court and states that the said amount was deposited on behalf of the appellants by a third party, but subsequently it appears that without intimating the appellants, the drawer stopped the payment of the said cheque, on account of which the previous order dated 16.01.2024 has not been complied with and thus it is the appellants have not committed any fault deliberately. It is contended that he is presenting a draft of Rs. 31.00 lacs and prays that the interim relief granted vide order dated 16.01.2024 may be extended, which was not extended vide order dated 08.02.2024.

Learned counsel for the respondent-Bank has no objection, if the matter is remanded back.

Learned counsel for the appellant submits that he may be permitted to file application for grant of interim relief before the Tribunal below, who may consider the same by 05.03.2024.

In view of the above, the present appeal stands disposed off with direction to the Tribunal below to consider and decide the S.A. No. 407/2022, which is stated to be pending, in accordance with law most expeditiously, preferably within two months from the date of production of certified copy of this order. If the learned counsel for the appellant files application for grant of interim relief before the Tribunal below along with draft of Rs. 31.00 lacs, the Tribunal below shall consider and decide the same most expeditiously in accordance with law by 05.03.2024.