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2025 DAILYLAW 124697 (ALL)

SAYED DAUD RAZA ALIAS SYED DAUD RAZA v. LEARNED DEBTS RECOVERY TRIBUNAL,LKO. THRU. REGISTRAR AND ANOTHER

WRIC/1372/2023 · 2025-01-29

Pankaj Bhatia

body2025

Judgment text

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Neutral Citation No. - 2025:AHC-LKO:6149 Court No. - 7 Case :- WRIT - C No. - 1372 of 2023 Petitioner :- Sayed Daud Raza Alias Syed Daud Raza Respondent :- Learned Debts Recovery Tribunal,Lko. Thru. Registrar And Another Counsel for Petitioner :- Abhishek Khare,Aahuti Agarwal Counsel for Respondent :- Amit Sharma,Kapish Srivastava AND Case :- WRIT - C No. - 6614 of 2023 Petitioner :- Sayed Daud Raza Alias Syed Daud Raza Respondent :- Learned Debts Recovery Tribunal Lko. Thru. Its Registrar And 2 Others Counsel for Petitioner :- Abhishek Khare Counsel for Respondent :- Amit Sharma,C.S.C.,Kapish Srivastava Hon'ble Pankaj Bhatia,J. 1. The present petition has been filed challenging the order dated 08.02.2023 passed by the Debts Recovery Tribunal, Lucknow and in Writ-C No.6614 of 2023, the order dated 24.03.2022 passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act has been challenged. 2. The contention of the Counsel for the petitioner is that the DRT has erred in not granting the benefit of limitation that was granted by the Hon'ble Supreme Court by exercising suo moto powers in Misc. Application No.21 of 2020 filed in Suo Moto Writ Petition (C) No.3 of 2020 in Re:Cognizance for Extension of Limitation. 3. Prima facie, the benefit of the said order has not been extended while hearing the application filed by the petitioner. 4. Both the parties agreed that the matter may be remanded for adjudication afresh. 5. In view thereof, the order dated 08.02.2023 is quashed. The Writ-C No.1372 of 2023 is allowed. 6. The matter is remitted to the DRT to pass fresh order in accordance with law taking into consideration the abovesaid judgment and order of the Hon'ble Supreme Court. 7. The petitioner would be at liberty to challenge the order dated 24.03.2022 passed under Section 14 of the SARFAESI Act, which is subject matter of Writ-C No.6614 of 2023, in the Securitisation Appeal. 8. The DRT shall endavour to consider and decide the abovesaid issues with all expedition preferably within a period of six months from the date of production of a certified copy of this order. 9. The petitioner would be at liberty to move an interim relief application which shall be considered and decided in accordance with law with all expedition preferably within a period of three weeks from the date of moving the said application. 10. For the period of three weeks from today or till the disposal of the interim relief application, the status quo shall be maintain by the parties. 11. In the abovesaid circumstances, the Writ-C No.6614 of 2023 is disposed off. Order Date :- 29.1.2025 akverma Digitally signed by :- ASHOK KUMAR VERMA High Court of Judicature at Allahabad, Lucknow Bench