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Judgment
The appellants filed S.A. bearing no.232/2026 titled as Sandipa & another V. Indian Shlter Finance Corporation Ltd. & others which is stated to be pending before DRT-II, Chandigarh. The appellant filed an application bearing no.516/2026 for seeking stay of the operation of the impugned order dated 08.04.2026 fixing the date for taking physical possession of the secured asset and also stay of auction proceedings and the consequential sale certificate. It was also prayed that the respondent no.1 be restrained from dispossessing the appellants from the secured asset during pendency of S.A. It was contended by the appellants that the respondent no.1 had acted in violation of mandatory provisions of SARFAESI Act and the rules framed thereunder. The appellants had also challenged the demand notice dated 13.04.2021, the possession notice dated 11.11.2021 and thereafter order under Section 14 of the SARFAESI Act. It was also contended that the sale proceedings suffered from several procedural irregularities.
The respondent no.1 opposed the application on the ground of limitation. It was also stated that the loan account was declared NPA on 23.03.2021 and thereafter various notices were issued.
The DRT-II, Chandigarh vide the impugned order dated 16.07.2026 observed that the appellants had challenged the order dated 08.04.2026 whereby date was fixed for taking physical possession of the secured asset. It was also observed that the respondent no.1 had taken foundational measures under the SARFAESI Act such as issuance of demand notice dated 13.04.2021 under Section 13(2), issuance of notice dated 11.11.2021 for taking symbolic possession under Section 13(4). The sale certificate was also issued after conduction of auction on 28.09.2024. Accordingly, DRT-II, Chandigarh observed that the present S.A. is barred by limitation.
Sh. Rajendra Kamti, Advocate for the appellants during the course of arguments also stated that earlier S.A. filed by the appellants was dismissed. It is also reflecting that the notice under Section 13(4) of the SARFAESI Act was issued on 11.11.2021 and even the auction was conducted on 28.09.2024. DRT-II, Chandigarh has taken a correct legal view regarding the limitation by observing that the present S.A. bearing no.232/2026 was barred by limitation. It is appearing that the appellants have been making unsuccessful attempts for retaining the possession of the secured asset. The present appeal appears to be gross abuse of process of law. DRT has considered all relevant facts while passing the impugned order dated 16.07.2026. There is no illegality or irregularity in the impugned order which warrants any interference by this Tribunal. The appeal is accordingly dismissed as being devoid of any merit.
All pending applications, if any, also stand disposed of.