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Judgment
R. D. Khare, Chairperson
Heard the learned counsels for the parties.
The present appeal has been filed under section 18 of the SARFAESI Act against the order dated 01.08.2022 passed by the Debts Recovery Tribunal, Lucknow in S.A. No. 404/2021, whereby the I.A. No. 1272/2022 filed by the S.A.-applicant for grant of interim relief against the order dated 16.02.2022 passed by the District Magistrate has been dismissed being devoid of merits.
Learned counsel for the respondent-Bank states that the S.A. is still pending consideration before the Tribunal below and the present appeal has only been filed for grant of interim relief against the order passed by the District Magistrate. It is thus prayed that the matter may be remanded back to the Tribunal below with direction to consider and decide the S.A. within a particular time frame and till then the status quo order passed by this Tribunal vide order dated 03.03.2023 may continue.
Learned counsel for the appellant does not object to the submission as made by the learned counsel for the respondent-bank.
In view of the above, the appeal is finally disposed off with direction to the Tribunal below to consider and decide the S.A. No. 404/2021 in accordance with law most expeditiously preferably within three months from the date of production of certified copy of this order. For the period of three months or till the disposal of the S.A., whichever is earlier, the interim order dated 03.03.2023 passed by this Tribunal shall remain operative.