Raj Pal v. Pnb Housing Finance Ltd & ANR

Civil Revision No.4222 of 2017 (O&M) -1IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Revision No.4222 of 2017 (O&M) Date of Order:06.03.2018 Raj Pal ..Petitioner

Versus

PNB Housing Finance Ltd. And anotehr ..Respondents CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL

Present:

Mr. J.P.Sharma, Advocate, for the petitioner.

Mr. Nitin Grover, Advocate, for respondent no.1-PNB Mr. Sanjiv Ghai, Advocate, for respondent no.2.

ANIL KSHETARPAL, J(Oral) Petitioner has challenged the order passed by the Debts Recovery Tribunal, dated 28.04.2017, dismissing the application for condonation of delay.

In the considered opinion of this Court, orders passed by the Debts Recovery Tribunal are appealable under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the SARFAESI Act, 2002'). It is further not in dispute that the petitioner earlier filed an appeal when the Debts Recovery Tribunal has observed that it does not have the power to condone the delay.

In view thereof, the petitioner has effective remedy as provided under the statue i.e. the SARFAESI Act, 2002. Naresh Kumar 2018.03.12 12:51 I attest to the accuracy and integrity of this document Chandigarh

Civil Revision No.4222 of 2017 (O&M) -2In view thereof, the petitioner is relegated to the remedy of appeal before the Debts Recovery Appellate Tribunal. The revision petition stands disposed of accordingly. March 06, 2018 (ANIL KSHETARPAL) nt JUDGE Whether speaking/reasoned : Yes/No Whether reportable : Yes/No Naresh Kumar 2018.03.12 12:51 I attest to the accuracy and integrity of this document Chandigarh