Disposed

Smt Shimla Pal wife of Shri Ravindra Pal v. Kotak Mahindra Bank Limited

DRAT20 Sept 2024

Case brief

AI extract

What is this about?

The Single Judge disposed of an appeal under the SARFAESI Act regarding rejection of an extension of time application and a delay in depositing installments. The court directed the DRT to decide the pending appeal expeditiously and maintained the status quo of the property until the interim stay application was decided.

What did the court decide?

Attributed the lower Tribunal's rejection to error; directed prompt decision of pending appeal; maintained status quo of property pending interim stay application decision.

Smt Shimla Pal wife of Shri Ravindra Pal versus Kotak… — Banking and Recovery | DRAT (2024)

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Appeal Dy. No. 926/2023 Date: 20.09.2024

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Smt. Shimla Pal Vs. Kotak Mahindra Bank Ltd.

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Present: Shri V. K. Shukla, counsel for the appellant,

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Heard the learned counsel for the appellant.

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The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 26.06.2023 passed by the DRT, Jabalpur in S.A. No. 91/2021. In para 10 of the order impugned, it is observed that the appellant had deposited first installment of Rs. 5.00 lacs on 09.03.2023 instead of 08.03.2023 and the second installment of Rs. 10.00 lacs was deposited on 12.06.2023 instead of 23.04.2023 and for the same, no application for condonation of delay along with application for extension of time has been moved before the Tribunal below.

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Learned counsel for the appellant has drawn attention of this Court to the page no. 164 of the paper book, which is application for grant of extension of time, which was moved by the appellant before the Tribunal below and it is contended that the Tribunal below without considering the facts of the case rejected the I.A. No. 2550/2023, which is bad in law and against the document on record. Learned counsel for the appellant further contends that a direction may be issued to the Tribunal below to decide the matter within the time as stipulated by this Tribunal. It is also prayed that the respondent-Bank may be directed not to initiate any coercive action pursuant to the notice dated 04.09.2024 issued by the Tehsildar for taking physical possession of the property in question today i.e. 20.09.2024.

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After hearing the learned counsel for the appellant and considering the facts and circumstances of the case, the present appeal stands disposed off with direction upon the Presiding Officer, DRT, Jabalpur to consider and decide the S.A. No. 91/2021, which is stated to be pending, in accordance with law, without being influenced by the finding recorded in the order impugned, most expeditiously, preferably within three months from the date of production of certified copy of this order. It is also directed that in case the appellant files an interim stay application before the Tribunal below within 10 days from today, the same shall be considered and decided on the same day. Till that time or disposal of the interim application, whichever is earlier, the status quo qua the property in question as it exists today shall be maintained by all the parties concerned.

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Justice R. D. Khare Chairperson

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Anupam

Smt Shimla Pal wife of Shri Ravindra Pal v. Kotak Mahindra Bank Limited

Case brief

What is this about?

What did the court decide?

Smt Shimla Pal wife of Shri Ravindra Pal v. Kotak Mahindra Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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