The Debts Recovery Tribunal dismissed the security application as infructuous because the respondent bank withdrew the demand notice u/s 13(2) of the SARFAESI Act, depriving the applicant of a cause of action.
The security application was dismissed as infructuous with all pending miscellaneous applications addressed.
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| Dateoforder | DEBTS RECOVERY TRIBUNAL, PATNA |
|
|---|---|---|
or proceeding |
Order with the Signature of the Court |
Office action taken with data |
| SA 22of 2022 | ||
| Mis Guru Kripa Rice Mills&others Vs Punjab National Bank Present: Dr. B.K. Singh ld. counsel for the applicant Shri Prashant Kumar ld. counsel for the respondent. |
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| 08.08.2022 | Ld. counsel for the respondent bank submits that he has received an email from the bank that the notice u/s 13(2) of the SARFAESI Act has been recalled by the bank hence no cause of action subsists as on today. It is submitted by the ld. counsel for the applicant that since the respondent bank has withdrawn the Demand notice issue u/s 13(2) of SARFAESI Act therefore this SA has become infructuous. Accordingly, this SA is dismissed as infructuous with all pending lAs, if any. Interim order, if any stands vacated. |
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| Consign the record. A copy of order be sent to the parties. |
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| Order be uploaded on the Tribunal's website. Patna (Kaushalendra Yadav) Presiding Officer |
Guru Kripa Rice Mills & others
Punjab National Bank
Kaushalendra Yadav
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
