Appeal by borrowers against a DRT order dismissing their prayer for recalculation of dues. The Tribunal dismissed the appeal, holding borrowers could not renounce their earlier undertaking to pay a specific amount.
Appeal dismissed; DRT directed to dispose of sub-application within two months.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson I.A. No. 295/2023
In Misc. Appeal No. 69/2023
Between Suchita Samir Dabri &Anr. … Appellantss/s V/s.
The Saraswat Co-operative Bank Ltd. …Respondent/s
Mr Sanjay Dubey, Advocate for the Appellants. Mr Abhishek Bhat, i/b M/s. S. K. Legal, Advocate for Respondent.
-: Order dated: 30/08/2023:-
The Appellants are borrowers who had borrowed money from the Respondent Bank. On defaulting repayment, measures under the provision of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”, for short) were initiated by issuing a demand notice on 06.10.2016 u/s. 13 (2).
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assets being served, they approached the Debts Recovery Tribunal – II, Mumbai (D.R.T) with Securitisation Application (S.A.) No. 2/2022. They had also filed an application as I.A. No. 3/2022 for interlocutory reliefs to stall the taking over of possession. The application was taken up for hearing on 10.01.2022 by the Ld. Presiding Officer, the Appellants came up with a proposal that the amount payable by them was ₹ 18.45 lakhs which they agreed to pay within a period of 45 days. They undertook to pay a sum of ₹ 3,00,000/- by transferring the amount into the account of the bank before 2.30 p.m. on that date. Subject to the condition that a sum of ₹ 3,00,000/- would be paid immediately, an interlocutory order was granted in favour of the Appellants by the Ld. Presiding Officer and thereafter, the Appellants also paid some amounts in instalments, as evidenced by the records produced.
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purpose of pre-deposit, the Appellants were directed to deposit a sum of ₹ 2,00,000/- which was deposited by them and the appeal was taken on file.
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before the appropriate forum in case there is an excess paid by them it has to be determined by that forum. With this observation, the appeal is disposed of.
Sd/Chairperson
rm-20
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2 issues framed by the court
Whether borrowers can challenge the outstanding amount calculation after having voluntarily undertaken to pay a specific lump sum including interest.
Whether the DRT can determine the exact amount due from a borrower in proceedings under the SARFAESI Act.
1 provisions across 1 enactments
Suchita Samir Dabri & Anr.
The Saraswat Co-operative Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
