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PDF - 2025-02-06T200711.175

The applicants, Mr. Prashant Nagar and another, have filed an application for interim relief against Punjab National Bank's recovery proceedings, claiming that proper legal processes were not followed. They argue that the demand notice was never served to them and that the possession notice lacks necessary signatures and dates. The applicants request the tribunal to stay all SARFAESI proceedings, including possession and sale actions, in the interest of justice.

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27 views1 page

PDF - 2025-02-06T200711.175

The applicants, Mr. Prashant Nagar and another, have filed an application for interim relief against Punjab National Bank's recovery proceedings, claiming that proper legal processes were not followed. They argue that the demand notice was never served to them and that the possession notice lacks necessary signatures and dates. The applicants request the tribunal to stay all SARFAESI proceedings, including possession and sale actions, in the interest of justice.

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gauravdgreat02
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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BEFORE THE HON'BLE DEBT RECOVERY TRIBUNAL

LUCKNOW
S. A. NO. 977 OF 2023

Mr. Prashant Nagar andAnother Vs Pujab National Bank


APPLICATIONFOR INTERIM RELIEF
The Applicant respectfully showth as under
1. That the applicants approached this hon'ble Tribunal against recovery
proceedings of
the respondent bank, in which the respondent bank has proceeded further for taking
physical possession, with out fling any written statement before this hon'ble tribunal
against which the applicant has moved an application for interim relief.
2. That Tothe best knowledge of the applicant, the impugned demand
notice have never
been served individually upon the applicants either by post, affixation, or by
publication in two newspaper of vernacular language.
3. That Further prima facie the possession notice under Section 13(4) is not as per
appendix V as such the redemption clause under Section 13(8) is missing in the
impugned possession notice.
4. That the impugned possession notice under Section 13(4) is neither signed by any
authorized officer not any date is mentioned.
5. That On 04.01.2025, the branch manager of respondent bank has told that he has sold

the impugned secured assets on 07.06. 2024 without compliance of rule 8(5), 8(6).
8(7), 9(1) and 9(2) of Security Interest Rules 2002 vide its Sale Notice dated
10.05.2024, (i.e. without any prior valuation, affixation or publication in twO news paper
or affixation or providing 30 days prior notice) and even no information or Sale
certificate has been provided tillthis date. The True Copy of the Possession notice
undated and Sale Notice (published only in one newspaper) are annexed as
Annexure no.1.

Wherefore May this hon'ble court be pleased to stay the entire SARFAESI proceedings
including the possession proceedings and Sale proceedings or any other coercive measures,
in the interest of Justice.
Lucknow:
Dated: leol2o2 COUNSEL FOR APPLICANT
(GAURAV GUPTA)

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