THE APPELLATE TRIBUNAL :

Instant appeal has been preferred by the Appellant, who is the defendant in the original proceedings before the Learned DRT, against an order dated 15.05.2024 passed by Learned DRT-2 Hyderabad in I.A. No. 2214 of 2023 in O.A. No. 687 of 2021 (Kotak Mahindra Bank Limited versus T R Auto Private Limited and others).

2. As per pleadings of the parties, it appears that an O.A. No. 687 of 2021 was filed by the secured creditor i.e. Respondent herein before the Learned DRT for issuing a certificate to an amount of Rs. 4,60,27,721/- as on 30th November, 2021. Pending O.A., an I.A. No. 2214 of 2023 was filed by the Respondent/ Secured Creditor directing the defendant Nos. 2 to 4 in the O.A. to furnish security to the extent of O.A. claim amount and in default to pass an order for attachment of the property. After filing of this Application opposition was filed by the defendant No. 2 wherein a plea is taken that the property sought to be attached is already mortgaged with the Axis Bank Hyderabad for the loans availed by Respondent No. 2 and 4. As such first charge over the property is that of Axis Bank only. Thereafter, a memo is filed by the Learned Counsel for the s