Tribunals and CommissionsSingle Bench(2026) 07 DRAT CK 1840

M/s Prag Allied Chemicals & Ors. vs Punjab National Bank & Ors.

Debts Recovery Appellate Tribunal · Decided on 14 July 2026

HON’BLE JUDGES
Sudhir Kumar Jain, J
CASE NUMBER
Appeal No.95/2026 In MA No.18/2026 Arising out of SA No.81/2025 (DRT-I, Chandigarh)

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Judgment

6 paragraphs · 310 words

I.A. No.980/2026 (application for urgent hearing filed by the appellants)

1.

Sh. Varun Gupta, Advocate for the appellant stated that the present appeal requires urgent hearing on the basis of facts mentioned in the application. Accordingly, the Appeal bearing no.95/2026 is taken up for hearing for final hearing with the consent of the parties today itself. The application stands disposed of.

Appeal No.95/2016

2.

Sh. Varun Gupta, Advocate for the appellant stated that he has already filed a Writ Petition bearing CWP no.19141/2026 before Punjab and Haryana High Court to impugn the order dated 26.05.2026 whereby on application bearing I.A. no.723/2016 this Tribunal had directed the appellant to make 30% of the outstanding amount as pre-deposit. Sh. Gupta further stated that in the present appeal the challenge is to the impugned order dated 21.04.2026 whereby M.A. bearing no.18/2026 which was filed in S.A. bearing no.81/2025 was dismissed.

3.

It is stated that the S.A. bearing no.81/2025 was ordered to be dismissed vide order dated 05.02.2026 as the appellant no.2 was not giving any instruction to the counsel. Sh. Varun Gupta further stated that the M.A. bearing no.18/2026 which was filed for restoration of the S.A. was dismissed vide order dated 21.04.2026. Sh. Gupta further stated that without going into the merit of the case an opportunity be given to the appellant to file a fresh application before DRT-I, Chandigarh for restoration of the S.A. bearing no.81/2025 along with an application for protection of the subject property. Accordingly, without going to the merits of the submissions made by Sh. Varun Gupta, Advocate for the appellant, the appellant is given one more opportunity to file another miscellaneous application for seeking restoration of the S.A. bearing no.81/2025. If such an application is filed, then DRT-I, Chandigarh shall consider the said application in accordance with law within 30 days.

4.

Appeal stands disposed of.