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Judgment
Heard the learned counsels for the parties.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 29.01.2026 passed by the Tribunal below in S.A. No. 625/2025.
Learned counsel for the appellant submits that against the demanded amount of Rs. 31.43 lacs, the appellant has deposited a demand draft of Rs. 5.65 lacs before the Registrar of this Tribunal and the appellant has already deposited a sum of Rs. 2.35 lacs with the Bank, which is about 25% of the demanded amount. Let the amount deposited by the appellant before this Tribunal be kept in the form of FDR in the nationalized Bank for a period of one year in auto renewal scheme.
Learned counsel further submits that the Nayab Tehsildar has issued a notice dated 02.02.2026 for taking physical possession of the property in question today i.e. 05.02.2026, therefore, the interest of the appellant may be protected.
Learned counsel for the respondent-Bank submits that the possession has already been taken by the Bank.
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 before the Tribunal below for redressal of his grievances within a week from today. In case the appellant files such application before the Tribunal below within the stipulated period, the same shall be considered and decided preferably on the same day or within 10 days 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.