Appellate Tribunal directed respondent bank to consider appellant's OTS proposal within 15 days of receipt. Status quo regarding property maintained for one month pending disposal of the proposal.
Liberty to submit OTS proposal within a week; respondent to decide within 15 days; status quo of property maintained for one month.
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Appeal Dy. No. 447/2025 Date: 13.05.2025
Talwar and Company through Proprietor Rajeev Talwar Vs. Piramal Capital and Housing Ltd.
Present: Shri Udai Chandani, counsel for the appellant, Shri Ashish Pratap Singh, counsel for the respondent-F.I.,
Heard the learned counsels for the parties.
Learned counsel for the appellant states that the appellant wants to submit OTS proposal, if the Bank is directed to consider and decide the same within the time as stipulated by this Appellate Tribunal.
Learned counsel for the respondent-F.I. submits that he shall instruct the respondent-F.I. to consider and decide the OTS proposal of the appellant within 15 days from the date of receipt of the same.
In view of the submissions made by the learned counsels for the parties, the appeal stands disposed off with liberty to the appellant for submitting OTS proposal before the respondentF.I. within a week from today, which shall be considered and decided within 15 days thereafter as stated above by the respondent-F.I. Till the disposal of the OTS proposal or for a period of one month, the status quo qua the property in question is directed to be maintained by all the parties concerned.
Justice R. D. Khare Chairperson
VN Giri
Talwar and Company through Proprietor Rajeev Talwar
Piramal Capital and Housing Ltd.
R. D. Khare
VN Giri
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
