The Debts Recovery Tribunal, Aurangabad dismissed the securities application filed by Jain Trading Company against Union Bank of India on the ground that the underlying sale had not taken place.
Securitisation Application No.112/2023 dismissed; all pending Internal Applications disposed of accordingly; interim orders vacated.
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.
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET
21.06.2023
Sr. No. 07 SA No.112/2023
| Classific ation |
No. of Exh. |
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|---|---|---|
| SECURITISATION APPLICATION NO. 112/2023 Jain Trading Company ..Applicants Versus Union Bank Of India .. Respondents Mr.P.S.Anerao – Advocate for the applicants through VC Mr. A.A. Mishra – Advocate for the respondent banks. The matter is taken through VC 1. In this matter, the learned counsel for the respondent bank submits that sale has not taken place. Consulted efforts have been made by the learned counsel for the respondent bank and also mediation took place before the Tribunal. 2. Even after agreeing, the applicant has not paid the amount on the ground that the property is being shared between the brothers. 3. In this matter since the sale has not taken place, the order of filing valuation has no meaning as of today. 4. In view of the above, I pass the following order through video conferencing. ORDER |
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| A. The Securitisation Application No.112/2023 is hereby dismissed. |
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| B. All pending IA in the proceeding if any are disposed of accordingly. Interim orders if any also stands vacated. C. File be consigned to the record room. The parties may download the order from the official web-site. |
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| (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
(APK) (SA No. 112/2023) Page 1 of 1
Jain Trading Company
Union Bank Of India
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
