M/S Aulakh Steels And Another vs Debts Recovery Tribunal-Ii And … on 23 September, 2011

     IN THE HIGH COURT OF PUNJAB AND HARYANA
                  AT CHANDIGARH

                                    CWP No. 3268 of 2011
                                  Date of decision: 23.9.2011

M/s Aulakh Steels and another                     .....Petitioners

                            vs.

Debts Recovery Tribunal-II and ors              .....Respondents

CORAM: – HON’BLE MR. JUSTICE HEMANT GUPTA
HON’BLE MR. JUSTICE JASWANT SINGH

Present: – Mr. Pankaj Gupta, Advocate
for the petitioners.

Mr.C.S.Pasricha, Advocate
for respondents.

HEMANT GUPTA, J

Learned counsel for the petitioners wishes to

withdraw the present petition with liberty to avail the remedy

of appeal against the order passed by Debt Recovery Tribunal

on 27.1.2011 (Annexure P-18) under the Securitization and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002.

In view of the said fact, we permit the petitioners to

withdraw the present petition to avail the remedy of appeal

subject to following conditions: –

(i) that the Debt Recovery Appellate Tribunal shall
consider the appeal on merits if the same is filed within
two weeks from today.

(ii) that the petitioner shall not be dispossessed from
the residential portion of the premises, the possession of
CWP No. 3268 of 2011 2

which was delivered back to the petitioner in terms of
order passed by this Court on 7.4.2008.

(iii) that in respect of other mortgaged property, the
petitioner shall be entitled to seek interim relief from the
Appellate Tribunal.

Dismissed as withdrawn in the above terms.

(HEMANT GUPTA)
JUDGE

(JASWANT SINGH)
JUDGE
23.9.2011
preeti