Pramod Yadav and Others v. Indian Bank

Appeal Dy. No. 1087/2024 Date: 17.02.2025

Pramod Yadav & Ors. Vs. Indian Bank & Ors.

Present: Shri S. K. Gupta, counsel for the appellant, Shri A. K. Srivastava, counsel for the respondent nos. 1 & 2- Bank,

Heard the learned counsels for the parties.

Learned counsel for the appellants submits that the S.A. No. 530/2023 is still pending before the Tribunal below, in which the possession notice has been challenged and the interim relief prayed by the appellants has been rejected vide order impugned, against which the present appeal has been filed before this Tribunal. It is further contended that the appellants have already deposited a sum of Rs. 16.50 lacs before this Tribunal. Inspite of the same, no 15 days’ sale notice dated 21.09.2023 was served upon the appellants on 26.09.2023, in which the auction was scheduled to be held on 11.10.2023, which is prior to 15 days’ of sale notice as stipulated under the law. Thus, it is contended that the same is illegal. It is therefore prayed that the interest of the appellant may be protected.

Learned counsel for the respondent-Bank submits that as the securitization application is still pending consideration before the Tribunal below, therefore, there is remedy open to the appellant to challenge the notice for possession before the Tribunal below. It is further contended that the reply has already been filed before the Tribunal below.

After hearing the learned counsels for the parties and considering the facts and circumstances of the case and the fact that the securitization application is still pending before the Tribunal below, the present appeal stands disposed off