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2016 (11) TMI 1071 - HC - Indian LawsE-auction and sale of immovable properties of a defaulting debtor - Held that:- The petitioner company has an alternative remedy under Section 17 of the Act of 2002 as amended effective 1-9-2016. The petitioner shall be free to file an application before the Debt Recovery Tribunal challenging the public notice dated 11-7-2016 or any other order/ notice issued by the respondent bank. The application under Section 17 of the Act of 2002 if filed by the petitioner company within three weeks from today be decided on merits. As the petitioner company is enjoying protection of this court effective interim order dated 26-8-2016 passed prior to amendment of Section 17 of the Act of 2002 on 1-9- 2016, the said interim protection shall continue for the benefit of the petitioner company for a period of three weeks from the date of this order. It is however made clear that this extended interim protection granted by this court is in the special facts of the case and will not influence any order interim or otherwise to be passed by the Debt Recovery Tribunal in the application under Section 17 of the Act of 2002 against the impugned public notice dated 11-7-2016. All orders both interim and final be passed by the Debt Recovery Tribunal in its wisdom only on merits of the case with reference to facts and law applicable.
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