Cholamandalam Investment and Finance Company Ltd. versus Uptown Girl

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson

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Misc. Appeal No. 03/2025

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Between

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Cholamandalam Investment & Finance Ltd. … Appellant/s V/s.

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Uptown Girls & Anr. …Respondent/s

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An Advocaat for the Appellant is present.

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The matter is taken up for hearing by way of praecipe filed by the appellant for seeking urgent relief.

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The appellant's financial institution is in appeal challenging the order dated 03.07.2024 in Interlocutory Applications (I.A.) Nos. 1675/2024, 1870/2024 and 1871/2024. It is observed that the sale is ex-facie defective and therefore, the Debt Recovery Tribunal-III, Mumbai (D.R.T.) directed that the respondent shall maintain status quo regarding the possession of the subject property and the I.A. No. 1871/2024 for stay of possession was allowed.

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The Ld. Counsel appearing for the appellant now submits that they are not proceeding with the sale which has already taken place and the same has been cancelled given the defect which has been pointed out, and that they may be going for a fresh auction. However,

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the fact that the sale has been cancelled or that the sale was held by the respondent is no reason to grant an order of status quo regarding the taking over possession. The appeal has become infructuous. If the

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1

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possession is taken in accordance with the rules, the impugned order does not appear to be proper.

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There is no appearance for the respondent despite being served with notice and therefore, the Misc. Appeal is allowed, the impugned order is set aside and the appellant is granted the option to move for taking over possession in accordance with law after proper notice. The respondents are at liberty to challenge the steps, if there is anything to be challenged.

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Sd/-
Chairperson

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psa-31

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Cholamandalam Investment and Finance Company Ltd. v. Uptown Girl

Case brief

What is this about?

What did the court decide?

Cholamandalam Investment and Finance Company Ltd. v. Uptown Girl

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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