Mblem Digital v. Uco Bank
Case brief
What is this about?
DTAppellate Tribunal heard interim appeals challenging a DRT order on possession under the SARFAESI Act. The court granted status quo regarding possession and sale certificate issuance, allowing the bank to receive balance sale consideration while disposing of the appeal within three months.
What did the court decide?
Granted status quo on possession and sale certificate; permitted bank to receive 75% balance consideration; directed disposal of appeal within three months.
EFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson
Misc. Appeal on Diary No. 2261/2024
Between
M/s. MBLEM Digital & Ors. … Appellant/s V/s.
UCO Bank & Ors.
…Respondent/s
AND
Misc. Appeal on Diary No. 2468/2024
Between
M/s. MBLEM Digital & Ors. … Appellant/s V/s.
UCO Bank & Ors. …Respondent/s
Mr Rajesh Nagory along with Mr Archit Virmani and Mr Atul Gupta i/b M/s. Optimus Legal Ventures, Advocates for Appellants.
Parties & counsel
- appellant
M/s. MBLEM Digital & Ors.
- respondent
UCO Bank & Ors.
Coram
Ashok Menon
Case details
As recorded by the court registry
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