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Judgment
ORDER
This Appeal is filed challenging the order dated on 31.07.2023 passed in IA 1369/2023 in SA 290/2023 by DRT, Madurai.
The main SA 290/2023 has been filed by the first Respondent seeking to call for the records pertaining to the proceedings initiated under the SARFAESI Act, 2002 culminated in the order passed by the 1st Defendant in Crl.M.P.No.7284/2023 dated 16.06.2023 under Section 14 of the SARFAESI Act and quash the same, restore possession to the Applicant; to regularize the loan accounts of the applicant, and for other reliefs.
In the said SA, an Interlocutory Application in IA 1369/2023 was filed seeking stay of all further proceedings pursuant to the order of the Learned CJM, passed in Crl.M.P.No.7284/2023 dated 16.06.2023, pending disposal of the SA. Learned Presiding Officer passed a conditional order directing the 1st Respondent to deposit 40% of the suit claim amount of Rs.8,14,27,051/- in five equal instalments, and on such payments, ordered stay of all further proceedings. Aggrieved by the said order, the Appellant Bank has preferred this Appeal.
Learned Counsel appearing for the Appellant submitted that the SA, which is pending consideration, may be directed to be disposed of as expeditiously as possible.
Despite service of notice, the first Respondent remained absent throughout the proceedings.
Admittedly, this Appeal is against an Interlocutory Application. SA 290/2023 filed by the 1st Respondent is still pending. Since the scope of the adjudication in the Application filed under Section 17 of the SARFAESI Act, is very limited, this Tribunal is of the view that, this Appeal can be disposed of by giving direction to Learned Presiding Officer, DRT, Madurai, to make every endeavour to dispose of the main SA, on merits and in accordance with law, as early as possible.
Accordingly, this Appeal in M.A (SA) :50/2023 is disposed of. No order as to costs. All pending IAs, if any, stand closed.