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Judgment
I.A. No.550/2025 (Application for condonation of delay)
The present application is filed for condonation of delay, if any, in filing the present appeal. The delay, if any, in filing the present appeal stands condoned. The application is allowed, accordingly.
Respondent filed O.A. bearing No.2776/2019 titled as Indian Bank V. M/s Colour Cottex Private Limited and others. During the pendency of said OA an application bearing I.A. No.700/2021 was filed for attachment of the uncharged property as mentioned in the application of the appellant who was defendant no.4 in the O.A. and further for restraining the appellant i.e. defendant no.4 from disposing of, transferring, parting or alienating during the pendency of OA.
The application bearing I.A. No.700/2021 was allowed vide impugned order dated 02.09.2024. The relevant portion of the impugned order dated 02.09.2024 is reproduced as under:
In the facts and circumstances above, in the considered opinion of this Tribunal, present IA is liable to be allowed. IA No.700/2021 is allowed. Property/ Shop No. B-II-383 measuring 30-3/4 sq. yards, situated at Bazar Bajajan, Ludhiana as per Sale Deed No.17927 dated 24.01.2007 duly registered with the office of sub-Registrar, Ludhiana as mentioned in para No.7 of the IA, owned by defendant No.4, is hereby attached in favour of applicant bank. Defendant No.4 is prohibited from transferring or charging the property in any way till pendency of this OA.
The counsel for the appellant argued that the OTS was submitted for consideration of the respondent which was pending at the time when I.A. No.700/2021 was filed. DRT-III, Chandigarh should not have decided the application bearing I.A. No.700/2021 during the pendency of OTS proposal with the respondent. However, during the course of argument on specific question put by this Tribunal, the counsel for the appellant is not able to show any legal provision to the extent that no application can be filed during the pendency of consideration of OTS.
The present appeal is mis-conceived and sheer wastage of process of judicial time. The present appeal is dismissed with the cost of Rs.15,000/- to be deposited with DRT Bar Association, Chandigarh in A/c No. 11152010030160 (IFS: PUNB0111510) maintained with Punjab National Bank Sec 8C (Chandigarh).