Utraulla Fmcg Trading Company v. Punjab National Bank
Case brief
What is this about?
The appellate court disposed of the appeal under the SARFAESI Act proceeding against a stay rejection, as the synchronizing securitization application remained pending below. Operadic liberty was granted to move an application before the Tribunal.
What did the court decide?
Disposed of appeal with liberty to move application for redressal within a week.
What the court decided
Appeal Dy. No. 296/2025 Date: 11.04.2025
Utraulla FMCG Trading Company Vs. Punjab National Bank
Present: Shri Rakesh Mishra, counsel for the appellant, Shri Himanshu Tiwari, counsel for the respondent-Bank
Heard the learned counsels for the parties.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 07.01.2025 passed by the Tribunal below in S.A. No. 42/2025, whereby the stay application for staying the possession of the property in question has been rejected on the ground that the property in question has already been sold.
After hearing the learned counsels for the parties and considering the facts and circumstances of the case, 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.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
1 issue framed by the court
Whether the present appeal under section 18 of the SARFAESI Act stands disposed of keeping the securitization application pending before the Tribunal below.
Parties & counsel
- appellant
Utraulla FMCG Trading Company
- respondent
Punjab National Bank
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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