ORAL ORDER

1. Heard Mr. Shivam D. Parikh, the learned advocate appearing for the petitioner.

2. By way of present petition, the petitioner herein has challenged the interim order dated 2.8.2024 passed in the Interlocutory Application No.1991 of 2023 seeking urgent hearing of the Securitization Application No.306 of 2021 by the learned Debt Recovery Tribunal-II, Ahmedabad. The said order is duly produced at Annexure-A page-37.

3. The learned Tribunal while passing the order has stated that the matter is already listed for hearing on 29.8.2024 and that the Tribunal is assigned dual charge of both the DRTs since 24.6.2004, there are number of matters which are already fixed with respect to the board of both the DRTs as also the fresh matters are fixed on day-today basis. In view thereof, it is not possible to fix early date in the matter.

According to the Tribunal, there was no urgency at that stage.

3. Being aggrieved by the aforesaid impugned order passed by the learned DRT dated 2.8.2024 in Interlocutory Application No.1991 of 2023 in Securitization Application No.306 of 2021 the petitioner has approached this Court seeking the following reliefs :-

“A. Direct the Learned Debts Recovery Tribunal – II, Ahmedabad to prepone Securitization Application No. 306 of 2021 and afford an opportunity of hearing to the Petitioner and furthermore, direct the Respondent No.02 Bank not to execute the sale deed/ sale certificate in favour of the successful auction purchaser of the secured assets till the final disposal of the Securitization Application No.306 of 2021 pending before the Learned Debt Recovery Tribunal-II, Ahmedabad;

B. Quash and set-aside of impugned order dated 02.08.2024 passed by the Ld. Debt Recovery Tribunal-II, Ahmedabad in Interlocutory Application No. 1991 of 2024 in Securitization Application No. 306 of 2021 at ANNEXURE-A.

OR IN ALTERNATIVE C. Quash and set aside action of Respondent Bank of declaring the account of the Petitioner account such as Loan against property bearing Account No. 20414641 as Non- Performing Asset ("NPA") being in violation of directive and guidelines of Reserve Bank of India;

D. Quash and set aside of impugned Demand Notice dated 17.04.2021 issued under Section 13(2) of the SARFAESI Act by the Respondent Bank at ANNEXURE-C;

E. Quash and set aside of impugned Possession Notice dated 26.08.2021 issued under Section 13(4) of the SARFAESI Act read with Rule 8(1) of the Security Interest (Enforcement)

Rules, 2002 at ANNEXURE-D;

F. Quashing and setting aside of impugned order dated 09.02.2023 passed by Ld. Chief Judicial Magistrate in Criminal Misc. Application No. 87 of 2023 at ANNEXURE -F;

G. Quash and set aside of sale notice dated 02.07.2024 issued by the Respondent Bank at ANNEXURE – L;

H. Pending admission, hearing and final disposal of this petition, this Hon'ble Court may be pleased to direct the Respondent No. 2 - Bank not to execute the sale deed/ sale certificate in favour of the successful auction purchaser till the final disposal of the Petition;

I. Grant ex parte ad interim relief in terms of prayer H above may be granted.

J. Such other and/or further reliefs as this Hon'ble Court may deem fit and proper in the facts and circumstances of the present case.”

4. Mr. Shivam D. Parikh, the learned advocate appearing for the petitioner submitted that the Tribunal ought to have granted the said application for pre-ponement so that interim relief restraining the Bank from executing the Sale Deed for issuing the Sale Certificate in favour of the auction purchaser till the final disposed of the Securitization Application No.306 of 2021 can be granted.

4.1 It is submitted that if such interim relief would be considered by the DRT, then on 29.8.2024 the application for impleadment of the auction purchaser can be decided.

4.2 It is submitted that in light of the aforesaid, the impugned order dated 2.8.2024 passed by the DRT requires interference.

5. Having considered the submissions advanced by Mr. Shivam D. Parikh, t