Prem Kumar Sahani vs Baroda Uttar Pradesh Gramin Bank

Heard the learned counsels for the parties.

Learned counsel for the appellant submits that entire amount due has been deposited by the appellant and the securitization application is still pending consideration before the Tribunal below. 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, which has been opposed by the learned counsels for the respondents.

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 finally 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 three months from the date of production of certified copy of this order.