Bank of India v. Smt Shashi Bala Singh
Case brief
What is this about?
Restricted from selling property. Appellant is at liberty to move an interim application within a week so the Tribunal can consider the pending securitization application expeditiously.
What the court decided
Appeal Dy. No. 1992/2024 Date: 17.01.2025
Bank of India Vs. Smt. Shashi Bala Singh Present: Shri P. K. Bajpai, 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 orders dated 25.11.2024 and 03.12.2024 passed by the Tribunal below in S.A. No. 913/2024, whereby the Bank has been restrained from selling the property in question.
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, the appellant is at liberty to move an interim application within a week before the Tribunal below to proceed further in accordance with law. If the same is filed within the aforesaid stipulated period, the Tribunal below shall consider and decide the same 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 the appellant is restrained from selling property while a securitization application is pending before the Tribunal.
Whether the present appeal should be decided on merits or allowed to proceed via a fresh interim application.
Parties & counsel
- appellant
Bank of India
- respondent
Shashi Bala Singh
Coram
Justice R. D. Khare
Case details
As recorded by the court registry
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