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Judgment
R. D. Khare, Chairperson
Heard the learned counsel for the appellant.
The present appeal has been filed under section 18 of the SARFAESI Act against the interim order dated 16.04.2025 passed by the Tribunal below in S.A. No. 1138/2024, whereby the conditional interim order has been granted by the Tribunal below.
Learned counsel for the appellant submits that the first installment was to be deposited by 1st of May, but on account of paucity of time, the funds could not be arranged and the same shall be deposited, if further some time may be granted, for which the application for modification had already been moved before the Tribunal below, but the said application has not been taken up.
After hearing the learned counsels for the parties and considering the facts and circumstances of the case, since the securitization application is still pending before the Tribunal below, therefore, the present appeal stands disposed off with direction upon the Tribunal below to consider and decide the interim application within 20 days from today. Till that time or disposal of the modification application, whichever is earlier, the status quo qua the property in question as it exists today shall be maintained by all the parties concerned.