Disposed

S S Sarda Leasing and Finance Limited v. Punjab National Bank

DRT17 Aug 2022SA/59/2022

Case brief

AI extract

What is this about?

In debtor v. creditor dispute, S S Sarda Leasing & Finance Limited applied for withdrawal of Securitisation Application due to amicable settlement and No Dues Certificate. Tribunal disposed of the application as settled.

What did the court decide?

Securitisation Application disposed off as settled; pending applications disposed; Bank to release securities if not required otherwise.

S S Sarda Leasing and Finance Limited versus Punjab National Bank — DRT (2022) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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1 S	7.08.2 r. No.	022 01 SA No.59/2022
Classifi cation	No. of Exh.
		INTERLOCUTORY APPLICATION No.1105/2022 IN SECURITISATION APPLICATION No.59/2022 S S Sarda Leasing & Finance Limited & others ..Applicants Versus Punjab National Bank & another ..Respondents Mr. M. M. Avhad – Advocate for the applicant. Mr. M. G. Deokate h/for Mr. A. S. Londhe – Advocate for the respondents. The matter is taken through Video Conference. 1. Mr. M.M. Avhad, advocate for the applicant, requested to Registry for listing the matter through video conference due to Covid-19 situation as per extent guidelines. Thus, the matter is placed through Video Conference. 2. By this interlocutory application the applicant bank seeks permission of this Tribunal to withdraw the Securitisation Application and submits that during the pendency of the matter there is amicable settlement of the dues between the parties and the respondent-bank has issued No Dues Certificate dated 04^thJune, 2022. Thus, nothing remains to be adjudicated on merit. 3. The learned counsel for the applicant wishes to withdraw the Securitisation Application.

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[SBJ]

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(SA No.59/2022) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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In view of the statement made by the learned counsel for the applicant, I pass the following order through video conference:

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ORDER

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A. Securitisation Application No.59/2022 stands disposed off as settled.

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B. All pending IAs in the proceeding, if any are disposed of accordingly. Bank to release the securities if not required otherwise in other case.

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A. Consign the file to the Record Room.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (SA No.59/2022) Page 2 of 2

S S Sarda Leasing and Finance Limited v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

S S Sarda Leasing and Finance Limited v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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