The Tribunal disposed of the Securitization Application as infructuous after the defendant bank representative withdrew the measures under the SARFAESI Act and agreed to restore possession within two weeks.
Securitization Application No.127 of 2022 stands disposed of as infructuous with 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
06.10.2023 Sr. No.901
| SA No.127 of 2022 | ||
|---|---|---|
| classifi -cation |
No. of Exh. |
Mr Dharam Navin Gandhi & Ors. Vs. Cholamandalam Investment & Finance Co. Ltd. & Ors. |
| Mr Mangesh M.D. Patel – Advocate for the applicants. Ms Dimple Tejani and Mr Praful Chipte i/b M/s. M & S Legal Ventures – Advocates for defendant no.1. None for other defendants. |
||
| 1. Ms Tejani, representing the defendant bank, submits that, upon instructions, she is withdrawing the action and measures under the SARFAESI Act and the possession with be restored within two weeks. Ms Tejani voluntarily submits that she will pay the cost quantified in the sum of Rs.2000/- to DRT Bar Association. 2. In view of the statement made by Ms Tejani, Mr Patel requests the Tribunal to dispose of the Securitization Application as infructuous. Accordingly, Securitization Application No.127 of 2022 stands disposed of as infructuous with no order as to costs. Sd/- Presiding Officer, DRT-2, Mumbai |
Nidhi
1 issue framed by the court
Whether the Securitization Application should be disposed of as infructuous after withdrawal of SARFAESI proceedings by the respondents.
1 provisions across 1 enactments
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
