M s Mahadev Traders and Others v. Union Bank of India
Case brief
What is this about?
This order allowed the appellant's waiver application (I.A. No. 294/2022) because the respondent bank had recovered more than 100% of the debt from property auction. The case was listed for rejoinder.
What did the court decide?
Waiver application (I.A. No. 294/2022) allowed; case listed for rejoinder on 03.01.2023.
What the court decided
Appeal Dy. No. 540/2022 Date: 10.10.2022
M/s Mahadev Traders & Ors. Vs. Union Bank of India
Present: Shri S. K. Gupta, counsel for the appellants, Shri Sandeep Arora, counsel for the respondent-Bank,
Perusal of the earlier order dated 20.09.2022 shows that the respondents have been noticed and they are represented through their counsels and were granted time to file reply. The office report dated 07.10.2022 shows that the waiver application being I.A. No. 294/2022 is pending consideration.
Learned counsel for the respondent-Bank files reply after serving copy of the same to the counsel for the appellant, who may file rejoinder by the next date.
In the waiver application being I.A. no. 294/2022, it is mentioned that the respondent-Bank has already recovered Rs. 44,71,000/- from auction of the property on 17.07.2020, which is more than 100% of the debt due as per demand notice dated 23.03.2018.
In view of the above, the waiver application stands allowed.
List this case on 03.01.2023 for rejoinder. Till then the interim order, if any, shall remain operative.
Justice R. D. Khare Chairperson
VN Giri
Parties & counsel
- appellant
M/s Mahadev Traders & Ors.
- respondent
Union Bank of India
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · October
- CNR
- 091090005402022
- Topic
- Banking and Recovery
All orders in this case
9 orders share this CNR
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