In a Securitization Application concerning a dispute over possession handover and deemed acceptance of an auction sale by a borrower following the deposit of excess proceeds, the Single Judge dismissed the application without granting relief.
The Securitization Application was dismissed; no relief was granted to the applicant.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 47
Case No. SA/514/2025
SHATRUGHAN SINGH PANWAR Vs PUNJAB AND SIND BANK
Date: 25.03.2026. Proceedings through hybrid mode Present:
Ms. Sumitra Choudhary, Counsel for the Applicant
Shri Tapish Saraswat, Counsel for the Respondent Bank/FI
In this matter, the counsel for the applicant submits that despite the stay order passed on 29.08.2025, the bank has hand over the physical possession to the Auction Purchaser.
The counsel for the respondent bank argues that the possession was handed over on 28.07.2025. He further submits that the excess amount was credited into the account of the borrower who has utilize the money which is deemed acceptance of the auction proceedings.
In view of the above, this Securitization Application stands dismissed. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
3 issues framed by the court
Whether the Securitization Application should be allowed despite the stay order.
Whether the hand over of physical possession by the bank constitutes deemed acceptance of the auction proceedings.
Whether the credit of excess amount into the borrower's account validates the auction sale.
SHATRUGHAN SINGH PANWAR
PUNJAB AND SIND BANK
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
