SIDDHARTH EXPORTS vs PUNJAB NATIONAL BANK on 9 April 2025

Court of the Presiding Officer Debts Recovery Tribunal, Jaipur * Item No. 80 Case No. MA/226/2022 IN SA/16/2018 SIDDHARTH EXPORTS Vs PUNJAB NATIONAL BANK Date: 09.04.2025. Proceedings through hybrid mode Present: Shri Bhrigu Sharma, Counsel for the Applicant Shri Sharad Joshi, Counsel for the Respondent Bank/FI Shri Kirti Kapoor, Counsel for the Auction Purchaser In this matter, Ld. counsel for the applicant submits that adjustment of Rs. 10.00 Lac is being made by the bank that was not in his knowledge nor they have given any instructions. He further submits that when the Securitization Application was disposed of in the year 2022 no such averments were being made by the bank. Further, he submits that he has challenged the valuation, but the same is not mentioned in the order. Be that it may be, after argument it was observed that applicant has to shown an error apparent on the face of the record. At this juncture, on instructions, he submits that he would like to go for appeal and the period spend in the review application may be condoned/ pardoned. The applicant is at liberty to file an appeal and the period spend in this review application i.e. from the date of filling to till today, shall be excluded from the limitation of the appeal, which he may file. The applicant may give representation to the bank about adjustment Rs. 10.00 Lac and the bank may take appropriate decision on the representation so, made by the applicant. In view of the above submissions, this Misc. Application stands disposed off. Copy of the order be given ḌASTI to the concerned parties File be consigned to record, as per rules. Copy of order be uploaded on website.

Court of the Presiding Officer

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(Vimal Gupta) Presiding Officer