M/S BHATTI TRACTOR THRU. PARTNERS AND 3 OTHERS v. DEBTS RECOVERY TRIBUNAL THRU. REGISTRAR AND 2 OTHERS
A227/1516/2025 · 2025-03-19
Pankaj Bhatia
body2025
DailyLaw.ai
[ 2025 DAILYLAW 129466 (ALL) · dailylaw.ai ]
DailyLaw.ai
[ 2025 DAILYLAW 129466 (ALL) · dailylaw.ai ]
Judgment text
Extracted from the PDF above. The PDF is authoritative.
Neutral Citation No. - 2025:AHC-LKO:15962 Court No. - 6 Case :- MATTERS UNDER ARTICLE 227 No. - 1516 of 2025 Petitioner :- M/S Bhatti Tractor Thru. Partners And 3 Others Respondent :- Debts Recovery Tribunal Thru. Registrar And 2 Others Counsel for Petitioner :- Rajneesh Yadav,Anchal Shukla Counsel for Respondent :- Alok Saxena,C.S.C. Hon'ble Pankaj Bhatia,J.
1. Heard learned counsel for the parties.
2. The present petition has been filed by the petitioner challenging the order passed under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act and S.A. was preferred, however, on account of non availability of the Presiding Officer of the Tribunal till 19.03.2025, the interim application filed by the petitioner along with S.A. could not be considered and on the other hand, the respondent-Bank are threatening to take possession.
3. It is informed at the bar that the Presiding Officer of the Debts Recovery Tribunal shall hold office from tomorrow.
4. It is agreed by both the parties that they shall appear before the Debts Recovery Tribunal to assist the Debts Recovery Tribunal in passing orders on the application filed by the petitioner and shall not seek any adjournment.
5. In view thereof, both the parties are directed to appear before the Debts Recovery Tribunal, Lucknow tomorrow i.e.
20.03.2025. The petitioner will move an application for pressing his interim application, which shall be decided by the Debts Recovery Tribunal with all expedition preferably within a period of one week from tomorrow without granting any unnecessary adjournment to any of the parties.
6. At this stage, learned counsel for the respondent - Bank makes statement that no steps are being taken for execution of the order passed under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act and no steps shall be taken for possession for a period of one week or till the decision taken by the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, whichever is earlier.
7. In view of the aforesaid direction, petition stands disposed off. Order Date :- 19.3.2025 Anupam S/- Digitally signed by :- ANUPAM SINGH PATEL High Court of Judicature at Allahabad, Lucknow Bench