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Judgment
Heard the learned counsels for the parties.
Learned counsel for the appellant submits that against the demanded amount of Rs. 33,08,231/-, the appellant has deposited a demand draft no. 550791 dated 04.06.2026 for Rs. 8.30 lacs before this Tribunal. Learned counsel further submits that the Bank has sold the property in question through auction on 09.06.2026, but the sale certificate has not yet been issued to the auction purchaser. It is, therefore, prayed that the Bank may be restrained from issuing the sale certificate till the disposal of the S.A. pending before the Tribunal below.
Learned counsel for the respondent-F.I. submits that 25% of the sale price has only been deposited by the auction purchaser and for the remaining 75% of the same, 90 days' period has been extended in view of the provisions of the Act and Rules made thereunder, therefore, no interim order is required to be passed, as the interim relief as prayed for is a premature one. It is therefore prayed that the appeal filed by the appellant may be dismissed.
Let the amount of Rs. 8.30 lacs be kept in the form of FDR in the nationalized Bank for a period of one year in auto renewal scheme.
After hearing the learned counsels for the parties and considering the facts and circumstances of the case, since the securitization application is still pending before the Tribunal below, therefore, the present appeal stands disposed of with liberty to the appellant to move an appropriate application for redressal of his grievances within a week from today. In case the appellant files an interim application before the Tribunal below within the stipulated period, the same shall be considered and decided on the same day or preferably within 10 days thereafter. Till that time or disposal of the said application, whichever is earlier, the respondent-F.I. is directed not to issue the sale certificate.