Nisha Jaulania vs Punjab National Bank

Heard the learned counsels for the parties.

Learned counsel for the respondent-Bank submits that the S.A. is still pending before the Tribunal below, therefore, the Tribunal below may be directed to decide the S.A. within the stipulated period as fixed by this Tribunal.

Learned counsel for the appellant submits that the Bank has issued a notice dated 05.05.2026 for shifting of movable items, which is fixed today i.e. 15.05.2026. Learned counsel further submits that the property in question is sole residential house, where the appellant resides and he has no other place for restoring the movable items. It is, therefore, prayed that the Tribunal below may be directed to decide the S.A. within the stipulated period and till then, the interest of the appellant may be protected.

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 application stands disposed of with liberty to the appellant to move an appropriate application for redressal of his grievances within 10 days 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 preferably on the same day or within a week thereafter. Till that time or disposal of the interim application, whichever is earlier, the status quo qua the property in question as it exists today shall be maintained by all the parties concerned.

However, the Tribunal below is further directed to consider and decide the S.A. itself most expeditiously preferably within two months from the date of production of certified copy of this order.