In this matter, the DRT upheld an amicable settlement where the applicant handed back papers and the secured assets were physically handed over, resulting in no further cause of action.
No order as to costs.
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 No.2, MUMBAI (BEFORE HON’BLE PRESIDING OFFICER) ORDER SHEET
03.11.2023 Sr. No.54
| SA No.113 of 2022 |
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|---|---|---|
| classifi -cation |
No. of Exh. |
Mr. Rahul Chapsi Nandu & Ors. Vs. Hero Fincorp Ltd. |
| Ms Dimple Tejani i/b Mr Sanjay Anabhawane – Advocate for the applicants. Mr Shadab Siddiqui i/b Mr R.L. Motwani – Advocate for defendant. |
||
| 1. Ms Tejani, representing the applicants, submits that she has handed back the paper to the applicants. 2. Mr Siddiqui, representing the secured creditor, submits that the matter has been amicably settled. The learned counsel further submits that the physical possession of the secured assets is handed over by the applicant. No cause of action survives under the SARFAESI Act. |
||
| Hence, Securitisation Application No.113 of 2022 stands disposed of with no order as to costs. |
||
| Sd/- Presiding Officer, DRT-2, Mumbai |
Radhika
Mr. Rahul Chapsi Nandu & Ors.
Hero Fincorp Ltd.
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
