Ms Anandeshwar Traders v. Indian Bank
Case brief
What is this about?
The Court allowed the appeal under section 18 of the SARFAESI Act. It directed the appellant to deposit the entire dues and file an interim application before the Tribunal below within a week. Pending disposal, status quo regarding the property is maintained.
What did the court decide?
Directions to deposit entire amount and file interim application before the Tribunal below within a week; status quo of property maintained until disposal.
Appeal Dy. No. 162/2025 Date: 05.02.2025
M/s Anandeshwar Traders Vs. Indian Bank
Present: Shri Rakesh Mishra along with Shri D. N. Awasthi, counsels 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 03.01.2025 passed by the Tribunal below in S.A. No. 567/2023, whereby the interim application filed by the borrower has been rejected.
Learned counsel for the appellant contends that he has already deposited Rs. 82,500/- through a demand draft against the demanded amount of Rs. 16.44 lacs and he is further ready to deposit entire amount due, therefore, the interest of the appellant may be protected as the Bank is going to take physical 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 depositing the entire amount due as stated above along with application for grant of interim relief before the Tribunal below within a week from today. If such application is filed along with the amount as stated above, 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. Till that time or disposal of the interim application, whichever is earlier, the status quo qua the property in
Issues for consideration
1 issue framed by the court
Whether the appellant is entitled to maintain status quo pending the outcome of a securitization application before the Tribunal below.
Parties & counsel
- appellant
M/s Anandeshwar Traders
Coram
R. D. Khare
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 — this page · Rajesh Dayal Khare
- Order 2 · Rajesh Dayal Khare
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