The Debt Recovery Tribunal held that since the respondent bank withdrew the SAFAESI action from the stage of demand notice, the stay application and connected interim applications became infructuous and were disposed of accordingly.
The stay application (S.A.) and both interim applications (I.As.) were disposed of as infructuous.
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DEBTS RECOVERY TRIBUNAL
LUCKNOW
| Dateoforderor 'roceedinl |
Order with signature of court | Office action takenwithdate |
|---|---|---|
| SA No. 169,/2023 08.12.2025 SI No.25 |
Sh. Sanjeev Sharma Ld counselfor theapplicantispresent. Sh. PraveenDwivediLd counselfor the respondentbankis present. Ldcounselfortheapplicantis pressing early hearing IA. No. 4450/2025 and I.A. no.4446/2025forrestrainingthe respondentbank fromputtingtheproperty one-auction Ld counsel for theapplicantsubmitted that respondent bank has yet notfiled written objection. Ld counsel for therespondent bank submittedthat in consquence ofdemand noticeand possession notice,respondent bank has issued sale notice, however, respondentbank hasdecidedtowithdraw thesecuritizationproceedingsinitiated against theapplicant. Ld counsel for the respondentbank submitted that the entire SARFAESIaction has beenwithdrawnby theRespondent bank from the stage of demand notice issued under section 13(2) of the SARFAESI Act,therefore,thisS.A. become infructuous Submission is taken onrecord Since the entire SARFAESIActions from thestage of demandnoticehavebeen withdrawan by the respondentbank, thereforethis S.A. andboththe I.As.have become infructous Accordingly, the S.A. and IAsare disposed of being infructuous. Recordbeconsigned torecord room. Pending I.As.ifany,alsodisposedoff. Order beuploadedon theTribunal’s website. (Dictated) (Pravas Kumar Singh) PresidingOfficer (Manoj) |
1 provisions across 1 enactments
Sh. Sanjeev Sharma
Respondent bank
Pravas Kumar Singh
As recorded by the court registry
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