Ms Vibha Gupta v. Union Bank Of India

$~01 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 6636/2018 & C.M. No.33372/2018 MS VIBHA GUPTA ..... Petitioner Through Mr. Ravi Gupta, Sr. Advocate with Mr. Mahip Dutta, Mr. Ankit Jain, Mr. Sachin Jain, Advocates.

versus UNION BANK OF INDIA ..... Respondent Through Mr. Janendra Lal and Ms. Yasmin Tarapore, Advocates.

CORAM:

HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE CHANDER SHEKHAR

O R D E R

% 23.08.2018 During the pendency of the present writ petition, the respondent-bank has taken physical possession of property bearing number C-732, New Friends Colony, New Delhi. In these circumstances, counsel for the parties jointly state that the interim order passed by us may continue till the next date of hearing before the Debts Recovery Tribunal in the securitization application filed by the petitioner. Thereupon, the Debts Recovery Tribunal would be at liberty to pass appropriate orders regarding continuation, modification or vacation of the stay order. We take the statement on record. We clarify that the stay order passed by this Court can be continued, modified or vacated by the Debts Recovery Tribunal after examining the facts and circumstances.

2.

It is pointed out by the counsel for the parties that the next date of hearing before the Debts Recovery Tribunal is 31st August, 2018. Counsel

for the petitioner states that they would be in difficulty and would request the Debts Recovery Tribunal for a short accommodation. 3.

It is for the Debts Recovery Tribunal to fix a suitable and convenient date as per their calendar, albeit we will observe that the matter should be disposed of expeditiously and indulgence should not be granted to the parties as securitization application should be decided and disposed of within a shortest possible time.

4.

Counsel for the petitioner also seeks liberty to withdraw C.M. No.3372/2018 and states that a similar application would be filed before the Debts Recovery Tribunal on or before 31st August, 2018. Accordingly, C.M. No.3372/2018 is dismissed as withdrawn with liberty as prayed for. 5.

Recording the aforesaid, the writ petition is disposed of without making observations and comments on merits.

Dasti.

SANJIV KHANNA, J.

CHANDER SHEKHAR, J.

AUGUST 23, 2018 NA/VKR