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Judgment
JASGURPREET SINGH PURI, J. (Oral)
With the consent of learned Counsels for both the parties, aforesaid two writ petitions, i.e. CWP-680-2023 and CWP-843-2023 are taken up together.
After arguing at some length, learned Counsel for the petitioner, prayed for withdrawal of both the aforesaid petitions in order to enable the petitioner to invoke the remedy available to him in accordance with the law by filing an appropriate application before the learned Debt Recovery Tribunal. He submitted that protection may be granted to him for a period of one month from today because there is already an interim order operating in his favour and directions may also be issued to the learned Debt Recovery Tribunal that, in case any appropriate application under Section 17 of the SARFAESI Act is filed, then the same shall be considered and decided on merits.
Mr. Munish Mittal, learned Counsel for respondent No. 1, submitted that he has got no objection with regard to the aforesaid submissions made by learned counsel for the petitioner, i.e. the prayer for extension of protection for a period of one month from today and issuance of direction to the learned Debt Recovery Tribunal to consider and decide the Securitisation Application (SA), if filed within the said period of one month, on merits without considering the aspect of limitation.
In view of aforesaid facts and circumstances, the prayer made by learned Counsel for the petitioner in both the aforesaid writ petitions is allowed and he is permitted to withdraw the aforesaid writ petitions, i.e. CWP-680-2023 and CWP-843-2023. However, liberty is granted to move any appropriate application before the learned Debt Recovery Tribunal in accordance with law within a period of one month from today.
In the event of the petitioner filing any SA before the learned Debt Recovery Tribunal, the same shall be considered and decided by the learned Debt Recovery Tribunal on its own merits without looking into the aspect of delay, especially in view of the fact that learned Counsel for the respondent-Bank has stated that he has got no objection with regard to the same.
It is further directed that the interim order passed on 16.01.2023 shall remain in operation for one month from today and it shall automatically expire thereafter.
Dismissed as withdrawn with the aforesaid liberty.
Pending miscellaneous application if any also stands dismissed.