Debts Recovery Tribunals and Appellate Tribunals
SJS FOREX LTD AND ORS vs KOTAK MAHINDRA BANK on 13 October 2026
DEBTS RECOYERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No,10412022
Arising out of S.A. No.2 4112022 (DRT-I, Delhi)
Item No.10
M/s SJS Forex Limited & others
V.
Kotak Mahindra Bank
13.10.2026 Hon'ble Dr. Justice Sudhir Kumar Jain Present: Sh. Pankaj Vivek, Sh. Deepak Singh and Sh. Jai Batra, Advocates along with Appellant no.2 in person Sh. Sanjeev Pathak, Advocate along with Sh. Ayush Panwar, Dy.
Legal Manager, for the respondent through VC
This matter is taken up through Hybrid hearing.
I.A. No.275l2022 (application for waiver of pre-deposit) and Misc. Apneal No.10412022
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1. The counsel for the appellants stated that the appellants have already deposited with the respondent around Rs.94 lacs in the past. Sh. Sanjeev Pathak, Advocate for the respondent stated that the said amount was paid towards settlement.
2. In the present appeal, the challenge is to the order dated 02.06.2022 whereby DRT, Allahabad having additional charge of DRT, Delhi declined to grant interim relief for restraining the respondent from taking physical possession of the properly on 06.06.2022. Sh. Sanjeev Pathak, Advocate for the respondent stated that at present no date is fixed for taking physical possession of the subject properly in pursuance of the proceedings initiated under the SAMAESI Act.
3. The present appeal was filed to restrain the respondent from taking physical possession on 06.06.2022 which has already been lapsed. There is no date fixed for taking physical possession of the property from the appellants as informed by Sh. Sanjeev Pathak, Advocate for the respondent. Accordingly, the present appeal is disposed of with the direction to the respondent to give 15 days'notice to the appellant in case the respondent is contemplating taking of the physical possession of the subjeot property. The appellants are at liberty to take appropriate legal proceedings after such notice is issued to the respondent.
4. In the meantime, the appellants are also at liberty to make sincere efforts to have an amicable settlement with the respondent.
5. Pending applications, if any, also stand dispose of. -rt^r -b- (Dr. Justice Sudhir Kumar Jain) Chairperson -pks