Debts Recovery Tribunal dismissed an application filed to challenge a failed auction, noting that since the auction failed, no subsistence remained for the challenge, at the request of counsel.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 52
Case No. SA/748/2023
VIMAL AGRO INDUSTRIES Vs PUNJAB NATIONAL BANK
Date: 17.04.2026.
Proceedings through hybrid mode
Present:
None for the Applicant
Shri Vikas Jain, Counsel for the Respondent Bank/FI
In this matter, none appeared on behalf of the applicant and there are directions of Hon’ble DRAT to dispose of this matter as expeditiously as possible. Counsel for the respondent bank submits that this Securitization Application was filed to challenge the auction, though the auction has already got failed, therefore, nothing survives in this SA.
Nobody appeared to rebut the averments of the counsel for the bank, therefore, this Securitization Application stands dismissed with liberty to the applicant to contest further action of the bank.
In view of the above, this Securitization Application stands disposed of. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
Vimal Agro Industries
Punjab National Bank
Vimal Gupta
As recorded by the court registry
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