NATIONAL STEEL AND AGRO INDUSTRIES LTD Vs. INDUSTRIAL FINANCE CORPORATION OF INDIA LTD

JUDGEMENT

(1.) THIS appeal has been preferred against the order dated 4.6.2003 passed by the learned Presiding Officer of the Debts Recovery Tribunal-1, Delhi (hereinafter referred to as 'the DRT') in Miscellaneous Appeal 21/2003.

(2.) By order dated 4.6.2003 passed in Miscellaneous Appeal 21/2003, preferred by the appellant herein, the Presiding Officer of the DRT set aside the sale in favour of the 4th respondent herein, and while doing so the learned Presiding Officer of the DRT also directed that the property be re-auctioned, and that the sum of Rs. 5.85 crores deposited by the appellant should be retained by the Recovery Officer till the property is sold in re-auction.