PNB SARFAESI Asset Sale Appeal Dismissed

Authority: High Court of Uttarakhand at Nainital

Order Date: 09 July 2026

Case Overview

• Petitioner: Pramod Sharma; Respondents: Punjab National Bank, its Branch Manager, Authorised Officer and Presiding Officer.
• The appeal (Special Appeal No. 203 of 2024) challenges the order of the learned Single Judge dated 24 June 2024 in WPMS/1509/2024, which dismissed Sharma’s writ petition contesting the sale of secured assets by PNB under the SARFAESI Act.
• Sharma argued that the Single Judge’s observations on merits could prejudice his later remedy before the Debt Recovery Tribunal (DRT) under Section 17 of the SARFAESI Act.
• The Single Judge had held that the bank’s right to realise public money was not violated and dismissed the writ petition without addressing merits, granting liberty to approach the appropriate authority.

Final Outcome

• The Division Bench (C.J. Manoj Kumar Gupta and Justice Subhash Upadhyay) held that the observations recorded in paragraph 6 of the Single Judge’s order are not binding on the DRT.
• Consequently, the intra‑court appeal is disposed of; any interim order, if existent, is vacated.
• All pending applications in the matter are also disposed.

Topics: SARFAESI Act, Debt Recovery Tribunal, Bank Asset Sale