JUDGMENT :

In the course of proceedings for enforcement of security interest created by the borrower, the secured creditor sold the secured asset under a private treaty. After confirmation of the sale and consequent registration of the document of title, the borrower approached the Debts Recovery Tribunal (for short, 'the Tribunal), challenging the sale including the steps initiated for enforcement of the security interest. By order dated 27.08.2021, the Tribunal directed maintenance of status quo over the property in question. The attempt of the auction purchaser to vacate the interim order before the Tribunal itself did not fructify due to the absence of Presiding Officers in the Tribunal. Hence the jurisdiction of this Court under Article 227 of the Constitution of India was invoked challenging the ad interim ex-parte order dated 27.08.2021 issued by the Tribunal. A relief to declare the securitisation application pending before the Tribunal as one without jurisdiction is also sought for.

2. When the original petition came up for admission, after hearing the petitioner as well as the secured creditor, this Court stayed the operation of the ad interim order issued by the Tribunal.