PRAGATHI LEASING Vs. ASSET RECONSTRUCTION COMPANY

JUDGEMENT

(1.) N While the Asset Reconstruction Company has come up with the first writ petition challenging an interim stay of further proceedings granted by the Debts Recovery Tribunal in a pending appeal, the auction purchaser has come up with the second writ petition, seeking a direction for removal of the movable items from the land and building, so that they could enjoy the property that was purchased by them.

(2.) Heard Mr. Vedula Venkataramana, learned senior counsel appearing for the Asset Reconstruction Company, Mr. L. Ravichander, learned senior counsel appearing for the borrower, and Mr. Pandu Ranga Reddy, learned counsel appearing for the auction purchaser.

(3.) The case on hand has a checkered history, the relevant portion of which alone is extracted as follows: