The Special Adjudicating Tribunal extended the time limit for depositing installments under an Outer Turnover Settlement (OTS) between debtors and a bank, citing a government strike as a compelling circumstance.
Petitioners allowed; liberty granted to deposit first installment by 3/10/2022 and second by 1/11/2022; liberty to approach Tribunal if disputes arise.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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| SA650 05t09t2 ).2 ShriShivendra Applicants Pandey,Advforthe StrriSanjeevDubey,AdvfortheRespondent No.1 Noneforothers On beingtakenthismatter,ApplicantCounsel invitedattention ondocumenffiledalongwith covering memoon01109122submitsthaton 25108122OTShasbeenarrivedbetweenthe partiesondepositingRs.70,65,000/_matter hasbeen settled and alsoinvitedattentionon documentNo.2arequestlettersubmitted by theapplicantsbeforetherespondent_bank submits_thattheapplicantsaietryingto iurangethe moneyby selling theirimmovable properfy.Butsincethe Governmentemployee of.theChhattisgarhStateison ^strike, registrationofthedocumentscouldnot possibletilltodayandthepurchaserisnot agreetoreleasethemoneywithoutgetting documentregistered. |
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| ApplicantCounselalsosubmitsthatthe applicantshaveapproachedbeforethe respondentbanktoextendthe timelimitas fixedbytheOTSproposalbysubmitting applicationthe documentNo.2. ApplicantCounselalsoinvitedattentionon orderdated2ll09l2lpassedbytheHon'ble HighCourtofC.G Bilaspurand submits that bygrantinginterimprotectiontheHon'ble HighCourtofC.Ghasnotimposedany condition. |
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Respondent Counsel also consented on this fact that the applicants have submitted OTS proposal and the Respondent Bank has also agree to settled the matter on the amount as reflected under the settlement letter. Simultaneously submits that looking to past conduct of the applicants the Respondlnt_ Bank is ready to comply this OTS proposal if the applicants are willing and readyto deposit the entire amount at least up to 3\logl22 subject to depositing some amount on or before 11109122 which date is fixed for depositing second installment earlier.
In reply Applicant Counsel submits that the applicants are positively willing to obey the OTS proposal as arrived between the Respondent-Bank but due to compelling circumstances they could not anange the money till today and also it may not be able till lll09l22. Therefore the applicants are praying to extend the time limit for depositing the first installmenr till 3\l0gl22 ind the second installment till 301 I I 122.
Respondent Counsel by opposing the prayer for extension of time for so longiubmiis tlhat the Respondent-Bank has already given ample time to the applicants and has alsoieduced ihe amount as per demand notice therefore, the applicants are obliged to comply the OTS as per condition fixed earlier and also submits that the applicants are not entitled to extension of time beyond 30t09122.
However, both the counsels are agree on this point that this SA may be disposed of finally by imposing condition for complying OTS
GONTD. ORDER.SHEET
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| withinreasonabletimeasbe fixedbythis Tribunal.SimultaneouslyApplicantCounsel praysforlibertytocome beforethisTribunal infutureifthematter restindisputebetween the parties. Afterhearingsubmissionofboththecounsels andon perusalofOTSsanctionletterandalso applicationforextensionoftimeitreveals that applicantsarewillingtodepositOTSamount butduetostrikeofGovernment employeeof StateofChhattisgarhthey couldnotuil.to arrangethemoneybyselling their property. KeepinginviewthatOTSis asacrosanct agreement betweenthepartiesandboththe partiesareobliged toobeythesame. Inthissituationapplicantsmay bepermitted forsomemoretimetocomplyttreOfS proposalarrivedbetweenthepartieson 25108122subjecttodeposit amount within time beingfixedasbelow. Theapplicants are permittedtodepositfirst installmentRs.50Lactill3ologl22andsecond installmentRs.20.65 Lactilll5ll\l22. Itismadeclearthatiftheapplicantsremain fail todeposit the amountasfixedabove, then theRespondent-Bankshall beinlibertyto take actionagainsttheapplicantsinpursuant toorderdated19107/21passedbythe DM Raipur byfollowingthelaw&procedure. Asprays,applicantsare given libertyto approachthis Tribunalifany disputeremains |
CONTD. ORDER.SHEET
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| betweenthepartiesregardingthisloan account. |
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| ThisSAisbeingdisPosedoffinallY foresaid. AS |
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| Partiesshallbeartheirowncost. | ||
| Matterbeconsignedtotherecordroom' | ||
| <br>(RamNiwAS atel) Presidingofficer |
Shri Shivendra Pandey
Sanjeev Dubey
Ram Niwas Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
