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2021 (12) TMI 125 - HC - Companies LawDirection to maintain status quo - seeking vacation of stay granted - petitioner submits that the impugned order is wholly without jurisdiction and the Tribunal has failed to appreciate that the petitioner is a secured creditor whose rights are to be governed under the SARFAESI Act - HELD THAT:- There are no reason to stay the impugned order. Once the petitioner has itself approached the Tribunal by way of an application to seek vacation of order of status quo granted on 30.09.2021, which application is pending adjudication before the Tribunal and is now listed on 15.11.2021, the Tribunal will necessarily consider the petitioner’s plea that the impugned order was without jurisdiction. Moreover, it is the petitioner’s own case that it has already taken possession of the subject properties and therefore merely because it has been directed to maintain status quo, no grave or irreparable loss is likely to be caused to the petitioner if the direction to maintain status quo continues further. While issuing notice in the petition, the application for interim relief being CM APPL. 35687/2021 is rejected - List on 29.11.2021.
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