This tribunal dismissed the appeal filed by Phoenix ARC Pvt. Ltd. under Section 18 of the SARFAESI Act, retaining the interim order restraining possession, with liberty to approach the tribunal below for further redressal.
Liberty granted to appeal for redressal before the Tribunal below.
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Appeal Dy. No. 596/2024 Date: 22.05.2024
Phoenix ARC Pvt. Ltd. Vs. Jwala Prasad Sharma Shiksha Sansthan and 3 Ors.
Present: Shri Amit Shukla, counsel for the appellant, Shri G. K. Srivastava, counsel for the respondent,
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. 754/2022, whereby the financial institution has been restrained from taking physical possession of the property in question.
After hearing the learned counsel for the appellant and after perusing the averment as made in the appeal, the present appeal is finally disposed off with liberty to the appellant to move an appropriate application before the Tribunal below for redressal of his grievance. This Tribunal has no doubt, if any such application is filed before the Tribunal below, the same shall be considered and decided in accordance with law most expeditiously.
Justice R. D. Khare Chairperson
Anupam
1 provisions across 1 enactments
Phoenix ARC Pvt. Ltd.
Jwala Prasad Sharma Shiksha Sansthan and 3 Ors.
R. D. Khare
As recorded by the court registry
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