Vinita Mantri versus Kotak Mahindra Bank Limited

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

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M.A. No. 71/2023 (EoT) In

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(Misc. Appeal No. 23/2023-Disposed of)

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Between

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Vinita Mantri … Appellant/s

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V/s.

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Kotak Mahindra Bank Ltd. & Ors. …Respondent/s

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Mr Meghnath Navalani, i/b Me Harshad A Sathe, Advocate for Appellant. Mr Rohit Gupta along with Mr D. Chaurasia, i/b M/s M.K. Ambalal & Co., Advocate for the Respondent Bank.

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The matter is taken up for hearing by way of praecipe dated 17.07.2023 filed by the Appellant for seeking urgent relief.

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The appeal was disposed of directing the Debts Recovery Tribunal, Pune (D.R.T.) to dispose of the O.A. No. 268 of 2013 expeditiously within a period of three months from the date of receipt of this order. The order was passed on 16.03.2023 and it is submitted that the O.A. could not be taken for consideration to date because the Appellant has approached the Hon’ble High Court with Insolvency Petition and that there were also settlement talks in between. If there is any Insolvency Petition pending before the Hon’ble High Court, it is for the Appellant to get a stay of the proceedings before the D.R.T. As long as the stay has not been obtained, there is no necessity for stalling the proceedings before the D.R.T. Hence, the D.R.T. is directed to proceed with the disposal of the O.A., unless there is a stay obtained from the High Court. It is also stated that there is an

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1

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application for stay of proceedings which has been filed before the D.R.T. in view of filling the application for insolvency before the Hon’ble High Court. The said application shall also be considered and disposed of in accordance with law and the O.A. shall be disposed of within an extended period of three months from today.

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Sd/Chairperson

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mks-8

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Vinita Mantri v. Kotak Mahindra Bank Limited

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Vinita Mantri v. Kotak Mahindra Bank Limited

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