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of <h1>SC Allows Interim Order Continuation; Directs Punjab National Bank to Allocate Funds Pending Final Outcome in Sales Tax Case.</h1> <h3>KOTAK MAHINDRA BANK LIMITED Versus DISTRICT INDUSTRIES CENTRE (D.I.C.) & ORS.</h3> The SC granted leave in SLP No. 6119/2021, allowing the interim order to continue during the appeal's pendency, indicating the appeal's merit. In SLP(C) ... Recovery of Tax - Attachment and auction of property - Right of buyer of property in Auction - HELD THAT:- The respondent No.3 (Punjab National Bank) is directed to set apart an amount of Rs.13,51,594/- (Rupees thirteen lakhs fifty one thousand five hundred ninety four only) from the sale proceeds received in respect of the subject property of the erstwhile owner and that amount be made over to the Sales Tax Department towards the dues, which will be subject to the outcome of this petition and without prejudice to the rights and contentions of the parties. List the matter on 17th November, 2021. Issues involved:1. Granting leave in Special Leave Petition (SLP) No. 6119/20212. Directing respondent No.3 (Punjab National Bank) to set apart an amount for Sales Tax Department in SLP(C) No. 10919/2021Analysis:1. Granting leave in Special Leave Petition (SLP) No. 6119/2021:The Supreme Court, comprising Hon'ble Mr. Justice A.M. Khanwilkar, Hon'ble Mr. Justice Dinesh Maheshwari, and Hon'ble Mr. Justice C.T. Ravikumar, granted leave in SLP No. 6119/2021. The interim order granted by the Court on 09.04.2021 was directed to continue during the pendency of the appeal. The counsel for the Petitioner, represented by Mr. Gaurav Khanna, Mr. Amar Dave, and Mr. Himanshu Bhushan, presented the case. This decision signifies the Court's acknowledgment of the appeal's merit and the need for further consideration.2. Directing respondent No.3 (Punjab National Bank) to set apart an amount for Sales Tax Department in SLP(C) No. 10919/2021:In SLP(C) No. 10919/2021, the Court issued a directive to respondent No.3, Punjab National Bank, to allocate an amount of Rs.13,51,594/- from the sale proceeds related to the subject property of the previous owner. This allocated sum was to be transferred to the Sales Tax Department to settle outstanding dues. Importantly, this transfer was made subject to the final outcome of the petition and without affecting the rights and contentions of the involved parties. The Court scheduled the matter for further listing on 17th November 2021, indicating the ongoing supervision and management of the case by the Court.This detailed analysis provides a comprehensive understanding of the Supreme Court's judgment, emphasizing the key issues addressed and the specific directives issued by the Court in each matter.
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