A227/13390/2026 of M/S MUSKAN TRADING CORPORATION AND 2 OTHERS Vs CANARA BANK AND ANOTHER on 23 September 2026

1. Heard learned Senior Counsel for the petitioners and Sri K.M. Asthana, learned counsel appearing for respondent-Bank.

2. This writ petition has been filed with the following prayers:- "i. issue an appropriate order or direction, directing the Debts Recovery Tribunal, Lucknow to take up, hear and decide, by a reasoned and speaking order and within such time frame as this Hon'ble Court may be pleased to fix, the Application for Interim Relief, the Application for Urgency and the Amendment Application, all dated 24.07.2026, filed by the Petitioners in Securitisation Application No. 916 of 2024, and thereafter to hear and decide the said Securitisation Application itself expeditiously and within such time frame as this Hon'ble Court may be pleased to fix;

(ii) issue an appropriate order or direction to further direct the Debts Recovery Tribunal, Lucknow that until the said applications and the said Securitisation Application are so heard and decided, the possession of the Petitioners over the secured asset, being the front portion of Khasra No. 688 M, admeasuring 1265 square metres, situated at Village Basantpur Senthli, Pargana Jalalabad, Tehsil Modinagar, District Ghaziabad, shall not be disturbed or altered by the Respondents, their officers, agents and assigns, whether in purported execution of the order dated 02.07.2019 or of the notice dated 10.07.2026 or otherwise howsoever, and that no third party rights or interest shall be created therein;" Versus Counsel for Petitioner(s) : Himadari Batra, Radhika Bansal Counsel for Respondent(s) : Krishna Mohan Asthana M/S Muskan Trading Corporation And 2 Others .....Petitioner(s) Canara Bank And Another .....Respondent(s)

3. It is contended that petitioner is a borrower, who had taken loan from respondent no.2-Canara Bank. As default has committed in re-payment of loan, proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) were initiated against the petitioner which had led to filing S.A. No.916 of 2024 challenging the entire proceedings initiated by the Bank. In the said proceedings, an application for grant of interim relief as well as amendment application have also been filed which are pending consideration.

4. As no useful purpose would be served in keeping the matter pending or calling for counter affidavit, the writ petition is being disposed of, at the admission stage, with a direction upon Debts Recovery Tribunal, Lucknow to decide the application for interim relief filed in S.A. No.916 of 2024, in accordance with law, within a period of one month from the date of production of certified copy of this order.Thereafter, the Tribunal shall also decide the amendment application within a period of next two months.

5. With the aforesaid direction, present writ petition stands disposed of. September 24, 2026 SK Goswami A227 No. 13390 of 2026 2 (Rohit Ranjan Agarwal,J.) Digitally signed by :- SHIVAKANT GOSWAMI High Court of Judicature at Allahabad