Punjab National Bank vs Aaifr & Ors.
2008 Latest Caselaw 2132 Del

*      IN THE HIGH COURT OF DELHI AT NEW DELHI
3.
+      W.P.(C) 7076/2008 & CM Nos. 13632 and 13634 of 2008


%                                       DATE OF DECISION: 2nd December, 2008

       PUNJAB NATIONAL BANK                       ..... Petitioner
                    Through: Mr. V.C. Mittal, Advocate.

                       versus


       AAIFR & ORS.                                            ..... Respondents
                                Through: Mr. Raju Ramchandran, Sr. Advocate
                                with Mr. Amit Dhall, Advocate.

CORAM:
HON'BLE MR. JUSTICE MUKUL MUDGAL
HON'BLE MR. JUSTICE MANMOHAN

1. Whether Reporters of local papers may be allowed to see the judgment?
2. To be referred to the Reporter or not?
3. Whether the judgment should be reported in the digest?

                                JUDGMENT

MUKUL MUDGAL, J: (ORAL)

1. Rule D.B.

2. By consent of counsel, this petition is taken up for final hearing.

3. This writ petition challenges the order dated 31 st January, 2008

whereby the Appellate Authority of Industrial & Financial Reconstruction,

New Delhi (for short 'AAIFR') adjourned the matter sine die in view of the

pendency of the matter in Delhi High Court. The adjournment was on the

basis of the order of this Court reproduced at page 127 of this paper book

which was merely an order issuing notice and formulating the question of

law.

4. The learned counsel for the petitioner has pointed out that the issue

involved is covered by a judgment of Division Bench of this Court titled as

Punjab National Bank Vs. AAIFR & Ors. reported in (2008) 151 DLT

81.

5. We are, therefore, of the view that the adjournment sine die by the

AAIFR was not, in the facts and circumstances of the case, justified and

therefore, we set aside the order of the AAIFR dated 31 st January, 2008 in

Appeal No. 14 of 2008 and while directing the parties to appear before the

AAIFR on 15th December, 2008, we direct the AAIFR to dispose of the

appeal in accordance with law not later than four months from the date of

first hearing before it. The interim order passed by us on the facts and

circumstances of this case shall be the interim order before the AAIFR in

these proceedings.

6. Accordingly, writ petition along with pending applications stand

disposed of.

7. A copy of this order be given dasti to the learned counsel for the

parties.

MUKUL MUDGAL, J

MANMOHAN, J DECEMBER 02, 2008 sb