The Debts Recovery Tribunal, Mumbai disposed of the Securitisation Application by consent after the applicants filed an undertaking to comply with the bank's notice regarding the secured asset and settle the claim amount.
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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI (BEFORE HON’BLE PRESIDING OFFICER) ORDER SHEET
23.01.2023
Sr. No.902
SA No.125 of 2022
| classifi- cation |
No. of Exh. |
Mr. Deepakumar Babulal Trivedi & Ors. Vs. Bharat Co-op Bank (Mumbai) Ltd. |
|---|---|---|
| Ms Radhika Nair and Mr Mayur Gala i/b M/s. M.P. Savla & Co. – Advocates for the applicants. Mr Rajesh Nagori i/b Ms Sanjana Ghogare – Advocate for defendant. |
||
| 8 | 1. The applicants have presented affidavit-cum- undertaking (exhibit-8), which is taken on record. 2. In paragraph no.1, the applicants undertake to comply with the notice stated in the affidavit for the purpose of disposing the Securitisation Application. The applicants state that the bank has made a claim in the sum of Rs.16.75 crores approximately under the 13(2) notice dated 10thJanuary 2022. The applicants have shown the readiness and willingness to settle the claim amount without prejudice to the rights and contentions of the parties. The applicants have agreed to discharge the liability as set out in paragraph nos.4 and 5. In view of the understanding between the parties, the secured creditor has deferred the taking of physical possession until the default is committed by the applicants. The applicants further state that in case of default, they shall |
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voluntarily hand over the physical possession of the secured asset, that is, factory at Vasai without any further reference to the Section 14 order. The undertaking given by the applicants is accepted. In view of the undertaking, the learned counsel for the parties requests the Tribunal to dispose of the Securitisation Application. Accordingly, by consent, Securitisation Application No.125 of 2022 stands disposed of with no order as to costs. Sd/Presiding Officer, DRT-2, Mumbai
Radhika
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Mr. Deepakumar Babulal Trivedi & Ors.
Bharat Co-op Bank (Mumbai) Ltd.
Presiding Officer
As recorded by the court registry
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