M/s. Shriram Finance vs M/s. Akshara Educational Society & Ors.

Heard the Learned Counsel for Appellant and perused the record.

Instant appeal has been preferred against the order dated 18.11.2025 passed by the Learned DRT, Visakhapatnam in S.A. 454 of 2025 whereby the Learned DRT allowed amendment application, I.A. 4369 of 2025 whereby challenge to the sale was made by the Securitisation Applicant. Subsequently, Learned DRT also passed an order restraining the Appellant, Financial Institution, not to execute the sale deed till disposal of the S.A.

Learned Counsel for Appellant would submit that Appellant is not challenging the order of allowing order of amendment but Appellant is aggrieved by the order restraining the Appellant from executing the sale deed.

As far as the issue of interim order passed by the Learned DRT is concerned, wherein the amendment was allowed and the same was challenged in the S.A. Learned DRT, in order to avoid multiplicity of proceedings, passed an interim order. However, as rightly pointed out by the Learned Counsel for Appellant, no reasons are assigned by the Learned DRT to pass the impugned order. Although it was required that Learned DRT should have assigned reasons for passing an interim order but if we go through the records, it can be found that the order was passed to avoid multiplicity of proceedings. As such, I do not find any illegality in the impugned order. However, Learned DRT is expected to decide the pending S.A. as expeditiously as possible as per its roster.

Application for condonation of delay in filing the appeal.

Learned Counsel submits that delay was not intentional and was caused due to reason beyond their control.

I find the ground sufficient for condoning the delay in filing the appeal.

Appeal stands disposed of at the ‘Admission’ stage.

File be consigned to Record room.

Copy of the Judgment/Final Order be uploaded in the Tribunal’s Website.

Order signed, dated and pronounced in open Court.