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2021 Supreme(All) 798

MANOJ MISRA, DINESH PATHAK
Scholar Education Trust of India – Appellant
Versus
Authorized Officer Bank of India – Respondent


Advocates:
Advocate Appeared:
For the Petitioner: Sarveshwari Prasad.
For the Respondent: R.V. Pandey.

ORDER :

1. Heard Sri. Sarveshwari Prasad for the petitioner; Sri. Sanjeev Singh for the respondent no. 1, learned Standing Counsel for respondent no. 2 and perused the record.

2. A proceeding under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (In short SARFAESI Act, 2002) was drawn against M/s. Shiksha Education Trust. Aggrieved by those proceedings, M/s. Shiksha Education Trust filed an application (i.e. Securitisation Application No. 107 of 2020), under Section 17 of the SARFAESI Act, 2002, before the Debts Recovery Tribunal, Allahabad. During the pendency of those proceedings, the secured asset was put for auction/sale. To put a stay on the auction the applicant moved an application. When stay could not be obtained it approached the Debts Recovery Appellate Tribunal. When it failed to secure relief there, the applicant (i.e. M/s. Shiksha Education Trust) filed Writ (C) No. 8816 of 2021 in this Court. This Court, by order dated 15th March, 2021, disposed off the writ petition filed by M/s Shiksha Education Trust by directing that the auction scheduled to be held on 16th March, 2021 shall remain stayed till the case is fi

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