DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

Misc. Appeal No. 441/2019

(Arising out of S.A. No. 142/2019 decided by DRT-II, Delhi)

Aditya Birla Finance Ltd.

&..Appellant

Versus

Mr. Vinay Gupta

&..Respondent

Dated: 20.11.2020

CORAM:- Mr. Justice P.K. Bhasin, Chairperson

Appearances:

Mr. Sanjeev Singh, counsel for the appellant

Mr. Sanjeev Bhandari and Mr. Amit Dhall, counsel for the respondent

ORDER

The appellant has felt seriously aggrieved by the blanket stay

order passed by the tribunal below(DRT-II, Delhi) in the securitization

application(S.A.) filed by the respondent herein under Section 17(1) of

the SARFAESI Act impugning the appellant9s measures initiated under

this Act to recover public money to the tune of over twenty

cores(Rs.21,51,58,605.83)by auctioning his property which had

mortgaged with the appellant to secure the repayment of loan granted

to him by the appellant. Vide impugned order the learned DRT has

restrained the appellant, a financial institution, from taking possession

of the mortgaged property and selling the same.

Page 2 of 16

Misc. Appeal No. 441/2019

2. The impugned order which gives the factual background to the

filing of