This IA was disposed of by directing the Learned Presiding Officer of DRT-I, Ahmedabad, to dispose of the related stay application (SA 369/2024) on merits within three months, without examining the merits of the present case.
Directed the Learned Presiding Officer, DRT-I, Ahmedabad, to dispose of SA 369/2024 on merits within three months.
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DEBT RECOVERY APPELLATE TRIBUNALMUMBAI (SITTING AT -CHENNAI) IA No. .221/2025 in M1SC APPEAL/49/2025 Dated; 11.04.2025 1. The .matter is taken up for hearing by way ofa Praecipe filed by the Petitioner/Appellant Institution for seeking urgent relief. 2. This IA 22.1/2025 is filed for staying the .order of Learned Presiding Officer, DRT-I, Ahmedabad, passed in SA 369/2024 on 31.01.2025, wherein. Learned Presiding Officer, taking note of the submissions of the Respondents borrowers that they intended to settle the loan, due to Appellant Institution, directed the Respondents to deposit Rs.2 Lakhs within a period of one month .from the date of passing that order and to submit a fresh proposal for settlement. He .further submitted that Rs.-2 Lakhs was not deposited within the stipulated time, but deposited with delay. Already SA 95/2023 was; dismissed on 05.11.2024. Again the present SA is filed challenging the measures taken under'Section 13(4)'of the SARFAESI Act, 2002. Thus., he submitted that a direction may be issued
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to dispose of the SA '369/202.4, as expeditiously as possible, on merits and in accordance with law.
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| Accordingly, .6. |
the MISC APPEAL/49/2025 is |
|---|---|
| disposed of.: Appe | nding lAsj if any, stand.closed- |
| PAM | CHAIRPERSON, ffij^ENNAI (IN-CHARGE, DRAT; MUMBAI) |
2 issues framed by the court
Whether the Additional Measuring Officer, DRT-I, Ahmedabad, should dispose of the stay application expeditiously without merits.
Whether the borrowers have deposited Rs. 2 Lakhs within the stipulated time frame as ordered.
1 provisions across 1 enactments
Petitioner/Appellant Institution
Respondents Borrowers
PA Chairperson, Chennai (In-charge, DRAT, Mumbai)
As recorded by the court registry
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