Allowed

Paldewar Prashant Agro Tech Private Limited v. Reliance Asset Reconstruction Company Limited

DRT22 Feb 2023MA/43/2022

Case brief

AI extract

What is this about?

DRT Aurangabad allowed a miscellaneous application for restoration of a dismissed securitisation application on payment of costs, remitting the matter for issuance of notice.

What did the court decide?

Miscellaneous application allowed with costs of Rs. 10,000; Securitisation Application restored for 10th March 2023; respondent to file reply.

Paldewar Prashant Agro Tech Private Limited versus… — Civil Procedure and Limitation | DRT (2023)

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

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2 S	2.02.20 r. No.1	23 5 M.A No.43/2022
Classifi cation	No. of Exh.
		MISCELLANEOUS APPLICATION No.43/2022
		Paldewar Prashant Agro Tech Private Ltd. ..Applicant/s Versus Reliance Asset Reconstruction Company Ltd. ..Respondent/s Mr. Manish D. Godhamgaonkar - Advocate for the applicant. Mr. A.A. Yadkikar – Advocate for the respondent through VC. The matter is taken through hybrid. 1. In this matter the learned counsel appearing on behalf of the applicant-bank submits that the Securitisation Application No.141/2021 under the SARFAESI Act challenging the action of the respondent issuing public notice for e-auction sale published in Daily News Papers on 02-09-2021 i.e. Navbharat, Pune Edition and Times of India Aurangabad edition of the properties purchased by the applicant. 2. The counsel for the applicant further submits that on 15-12-2021 when the matter was listed for admission none appeared and it was adjourned for 23-12-2021. Again on 23-12-2021 the matter was listed but on the date when the matter was dismissed in default the mother of the advocate of applicant had expired on 12-12-2021 and he was unable to attend the matter and as such the order of dismissal in default was passed on 23-12-2021. 3. The applicant has filed present Miscellaneous Application No.43/2022 for restoration of the Securitisation Application No.141/2021 which was dismissed for non-

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[SBJ] (MA No. 43/2022) 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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prosecution vide order dated 23^rd December, 2021.

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Heard the learned counsel for the applicant, he submits that subject to cost of Rs 10000/- application may be allowed, I pass the following order through video conferencing: ORDER

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A. The Miscellaneous Application No.43/2022 is hereby allowed with costs of Rs.10,000/- (Rupees Ten Thousand only).

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B. The Securitisation Application No.141/2021 is hereby restored to its original position for order of issuance of notice on 10^th March, 2023. Issue notice to the respondent.

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C. Since the counsel for the respondent present on VC and accepts the notice, list this matter for filing reply.

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D. File be consigned to the record room.

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The parties may download the order from the official web-site. (Vimal Gupta)

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Presiding Officer

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Debts Recovery Tribunal, Aurangabad

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[SBJ] (MA No. 43/2022) Page 2 of 2

Paldewar Prashant Agro Tech Private Limited v. Reliance Asset Reconstruction Company Limited

Case brief

What is this about?

What did the court decide?

Paldewar Prashant Agro Tech Private Limited v. Reliance Asset Reconstruction Company Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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