This court disposed of an appeal filed under section 18 of the SARFAESI Act. It held that since the underlying stay application was still pending before the Tribunal, the remedy was open to the appellant to file an application before the Tribunal below for expedredial redressal.
The present appeal is finally disposed off.
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Appeal Dy. No. 532/2024 Date: 16.05.2024
Union Bank of India Vs. M/s Jai Shree Rail Construction
Present: Shri Shubham Agarwal along with Mrs. Kritika Khanna, counsels 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 23.02.2024 passed by the Tribunal below in S.A. No. 1164/2023, whereby the stay has been granted with regard to the physical possession of the property in question and the S.A. is still pending consideration before the Tribunal below.
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 S.A. 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
2 issues framed by the court
Whether the present appeal under section 18 of the SARFAESI Act could be disposed of given that the underlying stay application remains pending before the Tribunal.
Whether the remedy lies in filing an appropriate application before the Tribunal below rather than in filing an appeal to this court.
1 provisions across 1 enactments
Union Bank of India
M/s Jai Shree Rail Construction
R. D. Khare
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
