Debts Recovery Tribunals and Appellate Tribunals
M/s Deluxe Enterpises & 03 Ors. vs Punjab National Bank on 6 May 2019
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MA No.29/19 M/s Deluxe Enterprises & Ors. Vs PNB & Anr.
06.05.2019 Item No.13 Present: Shri Vivek Verma, counsel for the applicant
Shri C S Pasricha, counsel for the respondent bank This Misc. Application under Section of 17 (7) Securitization & Reconstruction of Financial Assets And Enforcement of Security interest Act, 2002, read with 19
(25) of recovery of Debts and bankruptcy Act 1993 read with Rule 18 of DRT procedure Rules for staying all proceedings with regard to taking over actual physical possession of all movables and immovable properties as well for staying the lifting of movables from the premises on the basis of dismissal order dated 20.04.2019 prepared on 24.04.2019 and delivered on 25.04.2019 for 10 days enabling the applicants to file appeal before Hon’ble DRAT, Delhi.
The applicant has prayed that the respondents be restrained from initialing any proceedings against the properties of the applicants in any manner for the next 10 days, enabling the applicants to file an appeal before Hon’ble DRAT, Delhi and also placed on record order dated 24.04.2019 passed by Hon’ble High Court of Himachal Pradesh.
The counsel for the applicant has addressed today that since the applicant has already availed the opportunity of 10 days as per order dated 24.04.2019 passed by Hon’ble High Court of Himachal Pradesh which the counsel for the respondent bank who was incidentally present in the court has further affirmed and stated that the Misc. Application has become infructuous. Hence case is dismissed being infructuous. Let copy of this order be given dasti to the applicant as well as respondent bank and thereafter file be consigned to record.
(Harcharn Singh), Presiding Officer, DRT-I, Chandigarh Rajinder 06.05.2019