Raghvendra Das Vaishnav & Anr. vs Punjab National Bank

On a mention being made by the learned counsel for the appellant, this case has been taken up today.

Heard the learned counsels for the parties.

Learned counsel for the appellant submits that he has deposited a demand draft no. 760218 dated 09.07.2026 for Rs. 9.00 lakhs, which is more than 25% of the demanded amount. Learned counsel further submits that the auction was scheduled to be held on 29.06.2026 and the Tribunal below has not considered the stay application and remaining amount of the auction sale will be made by 14.07.2026, after which the sale certificate will be issued by the Bank. It is, therefore, prayed that the Bank may be restrained from confirming the sale, which has been opposed by the counsel for the respondent-Bank, stating that entire sale consideration has been deposited by the auction purchaser and sale certificate has also been issued by the Bank on 10.07.2026, therefore, no interim relief in this regard may be granted.

Learned counsel for the appellant further submits that if the sale certificate has been issued, the status quo qua the property in question may be directed to be maintained by the parties concerned, for which no prejudice would be caused to any of the parties.

After hearing the learned counsels for the parties and considering the facts and circumstances of the case, since the matter 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 before the Tribunal below 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 on the same day or preferably within 10 days thereafter. Till that time or disposal of the said application, whichever is earlier, the status quo qua the property in question, as it exists today, shall be maintained by all the parties concerned.