Debts Recovery Tribunals and Appellate Tribunals
M/S MULTANI OIL MILL vs fedbank financial services limited on 23 October 2026
DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No.377 12026
Arising out of S.A. No.367I6DRT-III, Chandigarh)
M/s Multani Oil Mill & others
v.
Federal Bank Financial Services Limited
Item No.3
23.10.2026 Hon'ble Dr. Justice Sudhir Kumar Jain Present:
Sh. Jai Prakash and Sh. Shubham Jha, Advocates for appellant Ms. Usha Singh, Advocate for respondent through VC
This matter is taken up through Hybrid hearing.
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1. The appellant filed S.A. bearing no.36712026 titled as M/S Multani Oil Mill and others V Federal Bank which is stated to be pending before DRT-III, Chandigarh. DRT-III, Chandigarh vide impugned order dated 16.09.2026 has declined to grant any interim relief without affording opportunity of hearing to the respondent/Federal Bank. The order dated 16.09.2026 is reproduced as under: This fresh SA has been placed before me today Heard. This Securitization Application was filed under section 17(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Actr 2002, for setting aside all actions taken by the respondent under the provisions of the above said Act. After hearing the submissions of learned counsel for applicants, it appears that there is no ground to grant any interim relief at this juncture without affording opportunity of hearing to respondent. Sh. Shubham Jha, Advocate prayed for issuance of notice to respondent. Let notice be issued to respondent by way of registered post and personal service for filing reply. Applicants are directed to ensure service upon respondent and file proof of service in the shape of affidavit before next date fixed. Put up on 17.10.2026 for arguments.
2. The appellant being aggrieved filed the present appeal. Sh. Jai Prakash and Sh. Shubham Jha, Advocates for the appellants stated that DRT-III, Chandigarh without any justification has refused to grant interim protection in respect of the subject property.
3. Ms. Usha Singh, Advocate for the respondent who has appeared on the advance notice stated that the subject property has already been put to auction and sold. She further stated that the possession of the subject property has already been handed over to the auction purchaser and the auction purchaser is not a pafty in the present appeal.
4. In view of the submissions made by the respective counsels, the present appeal stands disposed of with the liberty to the appellant to file an application before DRT-III, Chandigarh for impleadment of the auction purchaser and to seek protection from further transfer of the subject property, within two weeks. The pending applications, if any, also stand disposed of. G> $n (Dr. Justice Sudhir Kumar Jain) Chairperson -v$