ARUNBHAI KALYANBHAI SUTARIYA Vs. NUTAN NAGRIK SAHAKARI BANK LTD.& ANR

Supreme Court of India (Division Bench (DB)- Two Judge)

Appeal (Civil), 2822 of 2015, Judgment Date: Mar 10, 2015

                                                              NON-REPORTABLE

                        IN THE SUPREME COURT OF INDIA
                    CIVIL ORIGINAL JURISDICTION

                        CIVIL APPEAL NO. 2822 OF 2015
                (Arising out of SLP(C)NO.21260 OF 2011)


    ARUNBHAI KALYANBHAI SUTARIYA                             ... APPELLANT

                                      VS.


    NUTAN NAGRIK SAHAKARI BANK LTD & ANR.                 ... RESPONDENTS


                               J U D G M E N T

ANIL R. DAVE, J.

1.    Leave granted.

2.    Upon hearing the learned counsel, we have learnt  that  the  appellant
has already filed an appeal before the Debts Recovery Tribunal at  Ahmedabad
(DRT),  being  Securitisation  Appeal  No.38  of  2001,  which  is  pending.
Similarly, the Respondent-Bank has also filed an appeal before  the  Gujarat
State Cooperative Tribunal against order dated 4th  November,  2003,  passed
by the learned Board of Nominees at Ahmedabad in Lavad Case No.39 of 2000.

3.    As both appeals are pending,  we would  not  like  to  entertain  this
appeal on merits.   We direct the DRT  and  the  Gujarat  State  Cooperative
Tribunal to decide the appeals pending before them within three months  from
the date of receipt of a copy of this order.

4.     During the pendency of  afore-stated  appeals  before  the  Appellate
Authorities, no coercive steps shall be taken for  recovery  of  the  amount
under the provisions of the Securitization and Reconstruction  of  Financial
Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

5.    The question of law with regard to applicability of the SARFAESI  Act,
2002 and the Multi-State Cooperative Societies Act, 2002, is kept open.

6.    The Registry shall give intimation of this order to  the  afore-stated
authorities.

7.    In view of the above order, the appeal  stands  disposed  of  with  no
order as to costs.

                                                            ..............J.
                                                              [ANIL R. DAVE]

                                                            ..............J.
                                                             [KURIAN JOSEPH]
New Delhi;
    10h March, 2015.