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2023 Supreme(Del) 3472

VIBHU BAKHRU, AMIT MAHAJAN
SZF Exports Pvt. Ltd. – Appellant
Versus
Punjab National Bank – Respondent


Advocates appeared:
Mr Sidharth Chopra, Advocate, for the Petitioners.
Mr Arun Shukla, Standing Counsel with Mr Aamir Shaikh and Mr Naman Shukla, Advocates, for R-1/PNB.
Mr Sangram Patnaik and Tarun Gupta, Advocates, for R-2.

JUDGMENT

Vibhu Bakhru, J.

1. The petitioners have filed the present petition impugning an order dated 14.07.2023 passed by the Debts Recovery Appellate Tribunal, Delhi (hereafter `the DRAT') in Misc. Appeal No. 113/2023 captioned SZF Exports Pvt. Ltd. & Anr. v. Punjab National Bank. The petitioners had preferred the aforesaid appeal against an order dated 22.06.2023, passed by the Debts Recovery Tribunal (hereafter `the DRT') whereby, the DRT had expressed the prima facie view that there were no irregularities in the measures taken by the respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereafter `the SARFAESI Act').

2. The DRT had further rejected the prayer of the petitioners for restraining the respondent bank/court receiver from taking possession of the property in question - Industrial Property, Land and Building situated at Plot No.511-512, Sector 8, IMT Manesar, Gurugram, Haryana, plot area 900 square meters (hereafter `the property'). The Ld. DRT had noted that there was no dispute that the petitioners had availed of the loan facilities and had defaulted in repaying the same.

3. The petitioners

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