Hdb Financial Services Ltd. v. Ashok Kumar
Case brief
What is this about?
The court dismissed the appeal against an interim order restraining possession. It held that since a securitization application is pending before the Tribunal, a proper application under Section 18 of the SARFAESI Act offers an appropriate remedy for redressal, rendering the current appeal unnecessary. The appeal was disposed off.
What did the court decide?
The appeal filed under section 18 of the SARFAESI Act is disposed off on the ground that an appropriate application before the Tribunal offers an alternative remedy for redressal.
Appeal Dy. No. 1929/2024 Date: 21.01.2025
HDB Financial Services Ltd. Vs. Ashok Kumar
Present: Shri Amit Shukla, 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. 631/2024, whereby the appellant-F.I. has been restrained from taking possession of 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, 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
1 issue framed by the court
Whether the interim order restraining possession can be challenged by appeal when a pending application for securitization provides an alternative remedy before the Tribunal.
Parties & counsel
- appellant
HDB Financial Services Ltd.
- respondent
Ashok Kumar
Coram
R. D. Khare
Case details
As recorded by the court registry
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