Swadha Builders Private Limited and others vs Union Bank of India and others

The matter, as it appears, was entertained initially due to absence of a regular Chairman in the Appellate Tribunal, before which an appeal lies against

the order impugned herein. Since sufficient time has elapsed in the meantime and a Chairman is in charge of the said Appellate Tribunal, although

sitting for a limited number of days in a month, ends of justice will be subserved in the event the interim order of stay granted earlier stands extended

for a limited period and the petitioners are given the liberty to approach the Appellate Tribunal.

Accordingly, C.O. No.2916 of 2018 is disposed of, thereby extending the interim order granted earlier, restraining the opposite parties from taking any

further steps in respect of the property-in-question and/or creating any third party interest in respect thereof, till January 31, 2019 or until further order

which the Appellate Tribunal may pass. The petitioners are given the liberty to approach the Appellate Tribunal with the present challenge in the

meantime. If so approached, the Tribunal will make all endeavour to take up the same expeditiously. It is made clear that the merits of the matter have

not been gone into and the present order is being passed only in order to protect the right of appeal, which the petitioners have under the statute.

Leave is granted to learned advocate-on-record for the petitioners to take back the certified copy of the impugned order from the department, upon

compliance of due formalities.

There will be no order as to costs.

Urgent certified website copies of this order, if applied for, be given to the parties upon compliance of all necessary requisite formalities.