Kai Sushilatai Gaikwad Bhauddeshiya Sanstha and Ors. versus Invent Asset Securitization and Reconstruction Pvt. Ltd.

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson M.A. No. 08/2025 (Extension of Time)

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(Misc. Appeal No. 204/2024- Disposed of) Between

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Kai. Sushilatai Gaikwad Bahuuddeshiya Sanstha … Appellant/s & Ors.

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V/s.

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Invent Assets Securitization & Reconstruction Pvt. Ltd.

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…Respondent/s

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An Advocate for the Appellants is present. An Advocate for the Respondent is present.

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The matter is taken up for hearing by way of a praecipe filed by the applicants for seeking urgent relief.

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This is an application filed for an extension of time for disposal of the Interlocutory Application (I.A.)No. 1902/2024 in Securitisation Application (S.A.)No.321/2024 by the Debt Recovery Tribunal-II, Mumbai (D.R.T.). There was a direction that the stay granted by this Tribunal shall be in place for two months or till disposal of I.A. whichever is earlier. Still, since, there was no Presiding Officer available in D.R.T. the matter could not be taken. Hence, the applicants come up with an application for an extension of time to dispose of the I.A. as well as the order granting them the protection.

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I find that the prayer is reasonable, though the respondent vehemently opposed this application. Since no officer was manning the D.R.T., it is only reasonable that the time to depose the I.A. be extended further by two months, and the interim order will also stand extended for that period.

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psa-43

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Kai Sushilatai Gaikwad Bhauddeshiya Sanstha and Ors. v. Invent Asset Securitization and Reconstruction Pvt. Ltd.

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Kai Sushilatai Gaikwad Bhauddeshiya Sanstha and Ors. v. Invent Asset Securitization and Reconstruction Pvt. Ltd.

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