Smt. Radha Tripathi vs State Bank of India

Heard the learned counsels for the parties.

Learned counsel for the appellant submits that the appellant has deposited Rs. 8.00 lacs before this Tribunal for entertaining the appeal, which is 33% of the amount due. Learned counsel further submits that the Bank is going to take physical possession of the property in question, therefore, the interest of the appellant may be protected.

Learned counsel for the respondent-Bank submits that there is no notice to take possession of the property in question, therefore, there is no urgency in this matter.

Learned counsel for the respondent-Auction Purchaser submits that the Auction Purchaser has not made a party before this Tribunal and he is an aggrieved party as entire auction sale amount has been deposited with 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 for redressal of his grievances within a week 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 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.

However, the Tribunal below is further directed to consider and decide the S.A. itself most expeditiously preferably within two months from the date of production of certified copy of this order.