M/S. State Bank Of India v. The Presiding Officer, Debts Recovery Tribunal,

THE HON'BLE SRI JUSTICE R. SUBHASH REDDY AND THE HON'BLE SRI JUSTICE A. SHANKAR NARAYANA WRIT PETITION No.41225 OF 2015 ORDER: (Per Hon'ble Sri Justice R. Subhash Reddy) This Writ Petition is filed questioning the order, dated 31.03.2015, passed in I.A.No.1204 of 2015 in S.A.No.186 of 2015 by the Debts Recovery Tribunal, Hyderabad, and consequently, to direct respondent No.1 - Debts Recovery Tribunal to dispose of the said appeal. Questioning the notice issued under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and sale notice published on 16.02.2015, respondent No.2 has filed the aforesaid appeal. In the said appeal, I.A.No.1204 of 2015 is filed seeking to stay all further proceedings pursuant to the sale notice published on 16.02.2015.

The Tribunal, by impugned order, dated 31.03.2015, directed the petitioner - Bank to maintain status quo in respect of the petition schedule property pending disposal of the appeal. In this Writ Petition, it is the grievance of the petitioner - Bank that though the Bank was ready with the counter and vakalat, the Tribunal has passed the impugned order without considering the plea of the Bank.

The impugned order is passed on 31.03.2015 and the appeal is still pending consideration before the Debts Recovery Tribunal. In view of the plea of the petitioner - Bank, we deem it appropriate to dispose of the Writ Petition by directing the Debts Recovery Tribunal, Hyderabad, to dispose of the appeal as expeditiously as possible, preferably within a period of two months from today.

Subject to the above, the Writ Petition is disposed of. Miscellaneous Petitions, if any, pending in this Writ Petition, shall stand closed. No costs.

______________________ R. SUBHASH REDDY, J ___________________________ A. SHANKAR NARAYANA, J December 18, 2015 MD