Punjab National Bank v. Sh. Paras Bathla
Case brief
What is this about?
The bench disposed of the appeal filed under S. 18 of the SARFAESI Act. Since the securitization application was pending before the lower Tribunal, the court opined that the remedy lay in filing an application before the Tribunal. Consequently, the present appeal was finally disposed off without deciding the merits.
What did the court decide?
The present appeal is finally disposed off.
What the court decided
Appeal Dy. No. 1723/2024 Date: 12.11.2024
Punjab National Bank Vs. Paras Bathla
Present: Shri J. K. 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 12.09.2024 passed by the Tribunal below in S.A. No. 231/2024, whereby the interim relief has been granted by the Tribunal below subject to deposit of Rs. 3.00 lacs on or before 18.09.2024.
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
1 issue framed by the court
Whether the appeal against the interim order granting relief subject to deposit is maintainable when a securitization application is pending before the Tribunal.
Parties & counsel
- appellant
Punjab National Bank
- respondent
Paras Bathla
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 — this page · Rajesh Dayal Khare
- Order 2 · Rajesh Dayal Khare
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