MS PNG PROJECTS PVT LTD vs IDBI BANK AND ORS on 21 October 2026

1. In I.A. No. 166112026 was filed for early hearing of the Revie w Application bcaring No. 1812026 and I.A. No. 166212026 is filcd for passing an exparte ad interim ordcr for stay thc cxecution of posscssion notice dated 29.09,2026 issucd in pursuance of order datcd 10.11.2020 passed by the District Magistratc, (iurugram in casc No. 2OUISA/DM. 'l'he furthcr relief is prayed for restraining the respondent no.1 bank for taking posscssion of thc subjcct propcrly.

2. 'l'he Counsel for the applicant in supporl of the above said applications has rcferred various order shects and stated that this Tribunal was not --ilnctioning lor morc than thrce ycars as such the appeal / casc was not taken up ft,r hearing. 'fhe appcllant also filcd a Writ Pctition bcaring W.P. (C) No. l565312026tit"|ed as M/s PNG Projects I'rivatc l,imited v. IDIII llank & others which was disposcd of vidc ordcr datcd 16.10.2026 by the }Iigh Courl of Delhi by observin3 that although thc Writ Petition is rnaintainable but the Writ l'etition was not entertained in view ol'thc lact that thc rcvicw pctitioncr is pcnding bclbrc this 'l'ribunll. 'l'hc libcrty was also grantcd to thc pctitioncr i.c. thc applicant to approaoh this 'l'ribunal and placcd bclorc it thc proposal which is statcd to havc bccn madc bcforc thc Iligh Court for settlement. It was also directcd that the DI{]'shall consider the said offer on its own merit in accordance with law and without being influenced by the fact that the IIigh Coutt has declined to enteftain the prescnt Writ PctitiorL.

3. 'l'he Counsel for tl-re applicant stated that the applicant is rcady to scttle with thc rcspondcnts particularly thc rcspondent no.1 IDBI Ilank and during the course of argumcnt, the various ordcrs passcd by this 'I'ribunal have bccn rcfcrred. It is also statcd that thc posscssion of thc subjcct propcrty is contcmplatcd is takcn tonrorrow i.c. 22.10.2026 and rcquest is madc for injunction ordcr for onc wcck for the protection of the subjcct propcrty. 'I'he Counsel for the appellant also during thc course of argument has offercd to deposit I{s.25 lacs or any other arrount with this 'l'ribunal.

4. Sh. Deepak I(ochar, Counsel for respondent no.1 stated that he has received the copy o1' thc applications only yesterday which was holid ay and seo <s time to file rcply.

5. Sh. Ankur Jain, Counsel appeared on behalf of the respondcnt nt.6 stated that thc prcscnt casc is a classic cxamplc of thc lraud committcd by thc borrowcr with thc six banks in which FIR has alrcady becn registercd. It is further stated that thc rcspondent no.1 IDIII llank is not in thc possession of the original ti.le deed of thc subject propcrty which arc in the possession of the respondent no.6.

6. Pcrusal of record lor the purpose of thc applications under considcration rcflects that thc appellant has put appearance in this appeal before this l'ribunal lastly on 23.03.2023 and thcrcaller thc present appcal since 21.08.2023 was takcn up for hcaring by thc IIon'ble predecessor of this'l'ribunal. On 25.08.2023 rvhen nonc has appcared on bchalf of appcllant, thc prcscnt appeal was ordered to b,: dismissed in dcfault vidc ordcr datcd 25.08.2023 passcd by the I-Ion'blc predelessor of this 'l'ribLrnal. IIowcvcr, thcreaftcr Misc. Application bcaring No. 47812023 was filcd wlriclr was taken up for hcaring on 05.10.2023.'l'his'I'ribunal vide order dated 05.10.2023 has restored the present appeal to its originai number. It was further dirccted that the respondent no.1 IDBI Bank may proceed with the auction of the property in question but it was subjected to the outcome of this appeal. The appellant also filed LA. bearing No. 92912023 for restraining the respondent no.1 from taking physical possession of the property in question and vide order dated 17.11.2023 the notice was ordered to be issued. The Counsel for the respondent no.1 on 20.11.2023 has informed that the respondent no.1 has deferred from taking the possession of the property in question and thereafler none has appeared on behalf of the appellant.

7. This Tribunal after assuming the charge also observed vide order dated 16.04.2026 and 24.08.2026 that none has appeared on behalf of the appellant. Accordingly, this Tribunal vide order dated 24.08.2026 has constrained to dismiss the present appeal in default and for wants of prosecution. Thereafter, Misc. Application No. 10112026 for restoration of appeal was filed which was dismissed vide order dated 17.09.2026 after considering the due submissions rnade on behalf of the appellant I applicant.

8. The appellant I applicant also filed the Review Application bearing No. 1812026 for recall / review of the impugned order on which the notices were ordered to be issued to the respondents for 17.12.2026.

9. Kecping in view the fact of the appellant I applicant in non appearance as well as on the basis of the previous orders passed by this Tribunal as referrec herein above, there is no ground for urgent hearing as well as the stay is made out. Hence both applications bearing I.A. No. 166112026 & I.A. No. 1 66212026 stand; dismissed. L0. List on 17. I2.2\26,the date already fixed. sd- (Dr. .Iustice Sudhir Kumar Jain) Chairpcrson .N