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Judgment
Anil Kumar Srivastava, Chairperson
THE APPELLATE TRIBUNAL :
Compliance of the order dated 10th January, 2024 is made. Accordingly, let the Appeal be admitted by providing a regular appeal number.
Heard the Learned Counsel for the parties and perused the record. Appellant is aggrieved by the impugned order dated 28.08.2019 whereby the Learned DRT dismissed the SA application being infructuous.
Learned Counsel for the Appellant would submit that Appellant filed an application under Section 17 of the SARFAESI Act challenging the sale notice. On the very 3rd day of filing of the application merely on the basis of the statement of Learned Counsel for the Bank that property has been sold, SARFAESI application was dismissed being infructuous.
As far as contentions raised by the SARFAESI applicant in the SARFAESI Application are concerned, that have to be looked into by the Learned DRT. Whether the sale notice was bad in law or not, a categorical finding has to be recorded. Without going into the merits of the matter simply holding the SARFAESI application infructuous is an order which could not be sustained. Accordingly, impugned order is set aside.
ORDER
Appeal is allowed. Impugned order dated 28.08.2019 is set aside. The matter is remanded back to the Learned DRT to decide it afresh after affording an opportunity of hearing to the parties in accordance with law. Learned Counsel for the Appellant submits that amount deposited as pre-deposit may be refunded to the Appellant. Accordingly, Registry is directed to refund the amount of pre- deposit in accordance with law.
No Order as to costs.
File be consigned to Record Room.
Copy of the order be supplied to Appellant and the Respondents and a copy be also forwarded to the concerned DRT.
Copy of the Judgment/ Final Order be uploaded in the Tribunal’s Website.
Order signed and pronounced by me in the open Court on this the 1st day of April, 2024