M/S Springz and Another v. Indian Bank and Others
Case brief
What is this about?
CWP-15812-2026; Punjab & Haryana High Court; Suvir Sehgal / Vikas Suri; 22.05.2026; SARFAESI Act Section 13(2) demand Rs.2,49,31,772; Section 18 proviso 25% pre-deposit rule; DRAT 30% pre-deposit order 05.05.2026 (Annexure P-21); extension till 15.06.2026; partial deposit Rs.30 lakh; DRT-III stay refusal 21.04.2026 (P-18); earlier writ CWP-12215-2026 dismissed non-maintainable (P-19); possession notice 05.05.2026 (P-23); sale notice 07.05.2026 (P-24); e-auction 30.05.2026 deferred; restraint till 06.07.2026; DRAT expedited decision request; uninfluenced-by-observations clause; Sidha Neelkanth Paper Industries v Prudent ARC 2023 SCC Online SC 12 (counsel-relied, referred); writ petition disposed.
What did the court decide?
Time till 15.06.2026 to complete the 30% pre-deposit ordered by the DRAT; DRAT requested to decide the appeal/application for interim direction on 06.07.2026; Bank restrained from taking possession or sale of secured assets till 06.07.2026 subject to timely balance deposit; DRAT to decide uninfluenced by this Court's observations.