Ms Ssk Graphics v. Punjab National Bank

Appeal Dy. No. 186/2025 Date: 22.04.2025

M/s SSK Graphics Vs. Punjab National Bank

Present: Shri Rakesh Mishra along with Shri Ashutosh Shukla, counsel for the appellant, Shri Himanshu Tewari, counsel for the respondent-Bank,

Heard the learned counsels for the parties.

Learned counsel for the appellant submits that more than 50% of the amount due has been deposited by the appellant before this Tribunal and a direction may be issued to the Tribunal below to decide the pending S.A. within the time as may be stipulated by this Tribunal. It is further prayed that till the disposal of the S.A., the interest of the appellant may be protected.

Learned counsel for the respondent-Bank submits that the S.A. is still pending consideration before the Tribunal below and the present appeal has become infructuous as new order has been passed for taking possession has not been challenged before this Tribunal.

Be that as it may, since the securitization application is still pending before the Tribunal below, therefore, the present appeal stands disposed off finally with liberty to the appellant to move an appropriate application for redressal of his grievances within a week from today. In case the appellant files an interim application before the Tribunal below within the stipulated period, the same shall be considered and decided 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 question as it exists today shall be maintained by all the parties concerned.