Disposed

Mr Vasant Sanjiva Shetty v. Idfc First Bank Ltd.

DRT21 Jul 2022SA/82/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an interlocutory application seeking withdrawal of a securitization application. The court noted that the matter was amicably settled, the bank received the full sum, and issued a no objection certificate. The main application stands disposed of as withdrawn.

What did the court decide?

Interlocutory application allowed with costs made easy; Securitization Application No.82 of 2022 disposed of as withdrawn.

Mr Vasant Sanjiva Shetty versus Idfc First Bank Ltd. — Banking and Recovery | DRT (2022)

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

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Sr. No.904

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INTERLOCUTORY APPLICATION No.1698 of 2022

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SECURITISATION APPLICATION NO.82 of 2022

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Mr Vasant Sanjiva Shetty & Ors. … Applicants

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Versus

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IDFC First Bank Limited … Defendant

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Mr Sandeep Barve i/b M/s. B.K. Barve & Co. – Advocates for the applicants.

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Mr Shadab Siddique i/b Mr R.L. Motwani – Advocate for defendant.

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Shri Deepak M. Thakkar Presiding Officer, 21^st July, 2022.

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ORDER

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The applicants seeks permission of the Tribunal to withdraw the Securitization Application for the reasons recorded in the application. The learned counsel for the applicants submits that the matter is amicably settled between the parties. Defendant bank received the entire sum of Rs.3.53 crores and issued no objection certificate on 10^th May 2022. The applicants have redeemed the mortgage.

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Mr Siddique, representing defendant bank, confirms the settlement and would submit that the action and measures under the SARFAESI Act stood withdrawn.

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Page 1 of 3

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By consent, Interlocutory Application No.1698 of 2022 is allowed with costs made easy.

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Sd/-

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(Deepak M. Thakkar) Presiding Officer, D.R.T.No.2, Mumbai

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Srishti

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Page 2 of 3

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

ORDER SHEET

21.07.2022

Sr. No.904

		SA No.82 of 2022
classifi- cation	No. of Exh.	Mr Vasant Sanjiva Shetty & Ors. Vs. IDFC First Bank Limited
		Mr Sandeep Barve i/b M/s. B.K. Barve & Co. – Advocates for the applicants. Mr Shadab Siddique i/b Mr R.L. Motwani – Advocate for defendant.
		1. The learned counsel for the applicants has presented I.A. No.1698 of 2022, which is taken on record. 2. Order in I.A. No.1698 of 2022 passed separately. 3. In view of the order passed in I.A. No.1698 of 2022, Securitization Application No.82 of 2022 stands disposed of as withdrawn with no order as to costs.
Ssrishti		Sd/- Presiding Officer, D.R.T.No.2, Mumbai

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Page 3 of 3

Mr Vasant Sanjiva Shetty v. Idfc First Bank Ltd.

Case brief

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Mr Vasant Sanjiva Shetty v. Idfc First Bank Ltd.

Case brief

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