Partly allowed

Bank of Baroda v. Ms Ambico Exports and Imports Pvt. Ltd.

DRT16 Oct 2023OA/198/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an interlocutory application regarding an Operational Time Sale settlement of Rs. 11.80 crores by the second defendant and subsequently dismissed the original securitisation application as withdrawn with no order as to costs.

What did the court decide?

Interlocutory application allowed; Original Application No. 198 of 2023 dismissed as withdrawn; court fees refunded.

Bank of Baroda versus Ms Ambico Exports and Imports Pvt. Ltd. — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

¶2

(BEFORE HON’BLE PRESIDING OFFICER)

¶3

Sr. No.16

¶4

INTERLOCUTORY APPLICATION No.2224 of 2023 In SECURITISATION APPLICATION NO.198 2023

Bank of Baroda

… Applicant

Versus

M/s. Ambico Exports and Imports … Defendants Pvt. Ltd. & Ors.

¶9

Ms Rupa Prajapati i/b Mr Raghava M. – Advocate for the applicant. Mr Vishal Phal i/b Mr Sachin Kaikini – Advocate for defendant no.1. None for other defendants.

¶10

Shri Deepak M. Thakkar Presiding Officer,^th October 2023.

¶11

ORDER

¶12

The applicant states that the 2^nd defendant has settled the matter under the OTS for the amount in the sum of Rs.11.80 crores. The defendant’s counsel concedes that the court fee is paid by the applicant. Ms

¶13

Interlocutory Application No.2224 of 2023 is allowed with no order as to costs.

¶14

Sd/(Deepak M. Thakkar) Presiding Officer, DRT-2, Mumbai

¶15

Nidhi

¶16

IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

¶17

(BEFORE HON’BLE PRESIDING OFFICER)

¶18

ORDER SHEET

¶19

16.10.2023 Sr. No.16

¶20

		OA No.198 of 2023
classifi -cation	No. of Exh.	Bank of Baroda Vs. M/s. Ambico Exports and Import Pvt. Ltd. & Ors.
		Ms Rupa Prajapati i/b Mr Raghava M. – Advocate for the applicant. Mr Vishal Phal i/b Mr Sachin Kaikini – Advocate for defendant no.1. None for other defendants.
		1. The learned counsel for the applicant has presented I.A. No.2224 of 2023, which is taken on record. 2. Order in I.A. No.2224 of 2023 passed separately. 3. In view of the order passed in I.A. No.2224 of 2023, Original Application No.198 of 2023 stands dismissed as withdrawn with no order as to costs. 4. The learned Registrar is directed to refund the court fees as per the Rules.
		Sd/- Presiding Officer, DRT-2, Mumbai

¶21

Nidhi

Bank of Baroda v. Ms Ambico Exports and Imports Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. Ms Ambico Exports and Imports Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

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