Court No. - 7
Case :- WRIT - C No. - 38378 of 2018 Petitioner :- Kailash Chand Srivastava Respondent :- Canara Bank Through Its Branch Manager, Branch- Shastripuram, Agraand 02 Others Counsel for Petitioner :- Saurabh Tiwari,Sahab Tiwari,Sita Tiwari Counsel for Respondent :- Arvind Srivastava,Krishna Mohan Asthana
Hon'ble Saumitra Dayal Singh,J.
1. Heard Sri Saurabh Tiwari, learned counsel for the petitioner, Sri Ashok Kumar Dubey, holding brief of Sri Arvind Srivastava, learned counsel for the respondent-bank and Sri Gyanesh Kumar Mishra, holding brief of Sri Krishna Mohan Asthana, learned counsel for the respondent no. 3.
2. The present petition is directed against the order dated 15.11.2018 passed by the Debt Recovery Tribunal, Allahabad by which, on the stay application filed by the petitioner, the matter has been fixed for 30.11.2018.
3. Learned counsel for the petitioner submits that the petitioner had filed stay application along with an urgency application occasioned by the action taken by the bank inviting bids to auction his residential house under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act).
4. Principally, the petitioner appears to be aggrieved by the fact that though the urgency application was allowed, the Tribunal has not granted stay and allowed the auction proceedings to continue which may result in prejudice to his rights.
5. Learned counsel for the petitioner submits that the petitioner is willing to clear the entire default within reasonable time, if that discretion be exercised by the court.
6. While the present application has been opposed by the learned counsel for the Bank, in any case it appears that the matter is fixed before the Debt Recovery Tribunal on 30.11.2018 specifically for consideration of the stay petition. All pleas as are being raised by the petitioner and relief of instalment that has been prayed for, would be open before the Tribunal to be considered as it may deem fit. Insofar as stay application is still pending before the trial court, no further direction is required to be accepted, though it is expected that the stay petition be decided preferably on the date fixed or in any case, not later than 15 days there from.
7. With the aforesaid observation, the present petition is disposed of.
Order Date :- 26.11.2018 Prakhar