Disposed

School Management Committee (Smc) Ofmount Litera Zee School v. Nagpur Nagarik Sahakari Bank Limited

DRAT7 Feb 2023IA/76/2023

Case brief

AI extract

What is this about?

On an interim stay application regarding possession of school property, the Tribunal permitted the school to continue functioning. It directed the bank to take legal possession via the Mamlatdar without disrupting the school's operations or disturbing students and staff.

What did the court decide?

School permitted to continue functioning; bank allowed to take possession via Mamlatdar without disrupting school activities.

School Management Committee (Smc) Ofmount Litera Zee School… — Banking and Recovery | DRAT (2023)

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson

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I.A. No. 76/2023 (Stay) In Appeal on Diary No. 144/2023

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Between

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School Management Committee (SMC) of “Mount Litera Zee School” (Soon to be changed for “Orchids The International School”)

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… Appellant/s

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V/s.

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Nagpur Nagarik Sahakari Bank Ltd. Anr. …Respondent/s

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Mr Ismail Nashikwala along with A. Lokhande, i/b Idrin B., Advocate for Appellant.

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Mr. Sanjay Anabhawane, i/b M/s. M & S Legal Ventures, Advocate for Respondent No.1

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Mr Huzfa Nasikwala, Advocate for Respondent No.2

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-: Order dated: 07/02/2023:-

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The matter is taken up for hearing by way of Praecipe filed by the Appellant seeking urgent relief.

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The Appellant is a school management committee and they seek an order to maintain status-quo with regard to the uninterrupted functioning of the school by the said management. The Bank has initiated steps for taking physical possession of the secured assets consisting of the school property. Since the school is functioning at the premises, the physical possession shall be taken by the authorities on paper without disrupting the functioning of the school by present management, prays the Appellant.

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On hearing all parties concerned, I am of the considered view that the school shall be permitted to continue functioning at the premises, but for all practical purposes, the possession shall be with the bank in accordance with the orders of the D.R.T., Pune. There shall be no disruption to the functioning of the school which shall continue to function, till further orders. The Mamlatdar shall hand over possession of the property to the bank completing the formalities on paper. The activities of the officers shall not cause any disruption to the functioning of the school or cause any disturbance to the students and staff.

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A reply shall be filed and the pleading completed. Post on 20.03.2023 for a reply.

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Sd/Chairperson

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psa-07

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School Management Committee (Smc) Ofmount Litera Zee School v. Nagpur Nagarik Sahakari Bank Limited

Case brief

What is this about?

What did the court decide?

School Management Committee (Smc) Ofmount Litera Zee School v. Nagpur Nagarik Sahakari Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

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