Application to expedite hearing of an appeal against interest rate reduction in a loan recovery matter was dismissed; the matter was listed for reply on 28.09.2022.
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I.A. No. 338/2022 In Appeal Dy. No. 258/2022 Date: 16.09.2022
Housing and Urban Development Corporation Ltd. Vs. Prabhatam Buildwell Ltd.
Present: Shri Alok Rai, counsel for the appellant, Shri Akshansh Kishore, counsel for the respondents,
Heard the learned counsels for the parties.
An I.A. No. 338/2022 has been filed for expediting the hearing of the matter on the ground that the Recovery Officer is proceeding in the matter pursuant to the impugned order dated 26.04.2022 passed by the Tribunal below in I.A. No. 511/2021 filed by the borrower in Appeal No. 05/2016, by which the rate of interest was reduced from 10% to 8% per annum simple modifying the judgment and decree passed in Original Application filed by the appellant-F.I., therefore, the learned counsel for the appellant prays that the hearing of the present appeal be expedited.
Learned counsel for the respondent-Bank contends that the major amount has already been paid and only pendentelite and future interest is to be paid, which is under challenge in the present appeal. He further contends that the appeal is fixed for 28.09.2022, therefore, he prays that the case may be listed on the said date and in the meantime, he shall file objection to the present application.
List this case on 28.09.2022 for reply.
Justice R. D. Khare Chairperson
VN Giri
Housing and Urban Development Corporation Ltd.
Prabhatam Buildwell Ltd.
Sh. R. D. Khare
VN Giri
As recorded by the court registry
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