The Debt Recovery Appellate Tribunal directed the appellant to negotiate a settlement for an outstanding loan amount of Rs. 78 lakh, with possession scheduled to be taken on 05.09.2023, and mandated a reporting post on 04.09.2023. The matter was disposed of as an Indiana Administrative Order.
Direction to negotiate settlement and report by 04.09.2023.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson I.A. No. 600/2023(WoD)
In
Appeal on Diary No.895/2023
Hitesh Suresh Mehta & Ors.
V/s.
IDFC First Bank Ltd.
Between
…Respondent/s
Mr Alok Mishra, along with Ms Vidhi Suthar, i/b M/s. GP & Associates, Advocate for Appellant.
Mr R.L. Motwani, Advocate for Respondent.
-: Order dated: 01/09/2023:-
The matter is taken up for hearing by way of praecipe filed by Appellant for seeking urgent relief. The matter After having heard both sides for some time it is pointed out by the Ld. Counsel appearing for the Respondent Bank that the outstanding amount as regards the loan for which the Sarfaesi measures have been initiated is around ₹ 78,00,000/-.
This Tribunal has requested the Ld. Counsel appearing for the Appellant to negotiate and try a settlement of this facility for which the recovery is initiated, and he undertakes that he would make an effort to settle this particular loan for which Sarfaesi measures have been initiated in the present matter of Respondent.
The possession is intended to be taken on 05.09.2023 of this month.
1
Post on 04.09.2023 for reporting settlement/hearing.
Sd/Chairperson
rm-21
2
1 issue framed by the court
Whether urgent relief is required for a loan facility where possession is scheduled for the immediate future.
Hitesh Suresh Mehta & Ors.
IDFC First Bank Ltd.
Ashok Menon
As recorded by the court registry
7 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
