Anita Gupta v. Union Bank of India
Case brief
What is this about?
The Appellate Tribunal dismissed an appeal filed under Section 18 of the SARFAESI Act. The court held that since the securitization application was pending before the lower Tribunal, the appellant had an effective remedy there. It directed the lower Tribunal to decide any application filed expeditiously.
What did the court decide?
The appeal is disposed off with a direction to the lower Tribunal to consider any application filed by the appellant most expeditiously, preferably on the same day or within a week.
Appeal Dy. No. 525/2025 Date: 07.04.2025
Anita Gupta Vs. Union Bank of India
Present: Shri Arif Iqbal, counsel for the appellant, Shri Bharat Kant, counsel for the respondent-Bank,
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 01.04.2025 passed by the Tribunal below in S.A. No. 235/2025, whereby the issuance of sale certificate has not been restrained.
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 against the interim order. 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
2 issues framed by the court
Whether an appeal under Section 18 of the SARFAESI Act is maintainable when the securitization application is pending before the Tribunal.
Whether the Appellate Tribunal can direct the conservation of assets or issue any other order via an appeal pending before the Tribunal.
Parties & counsel
- appellant
Anita Gupta
- respondent
Union Bank of India
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · April
- CNR
- 091090005252025
- Topic
- Banking and Recovery
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