Disposed
Tarun Chhabra v. Axis Finance Ltd.
DRTSA/148/2022
What the court decided
AI extract
Outcome
Disposed
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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI
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(BEFORE HON’BLE PRESIDING OFFICER)
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ORDER SHEET
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03.11.2023 Sr. No.60
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| SA No.148 of 2022 | ||
|---|---|---|
| classifi -cation |
No. of Exh. |
Mr. Tarun Jagdish Chhabra Vs. Axis Finance Ltd. (AFL) & Ors. |
| None for the applicant. Mr Dhrumil Shah i/b M/s. MDP & Partners – Advocates for defendant no.1. None for other defendants. |
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| 1. The defendant’s counsel drew the Tribunal’s attention to the order dated 11thJune 2023 stating that the applicant undertook to withdraw all legal proceedings within one week. The learned counsel submits that the applicant has breached the undertaking and failed to apply for withdrawal. The learned counsel therefore, requests the Tribunal to dismiss the Securitisation Application. The learned counsel submits that the secured creditor has sold the flat and received Rs.7.50 crores under the settlement between the parties and therefore, the action and measures concerning the flat disputed in the present Securitisation Application is over. Now there is no surviving cause of action and requires the dismissal of the Securitisation Application. In view of the submissions made by Mr Shah, the matter has been amicably settled for an amount in the sum of Rs.7.50 crores and upon settlement, the action and measures qua the subject flat ended. Securitisation Application No.148 of 2022 stands disposed of. |
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| Sd/- Presiding Officer, DRT-2, Mumbai |
Parties & counsel
AI extract
- applicant
Mr. Tarun Jagdish Chhabra
- respondent
Axis Finance Ltd. (AFL)
Coram
AI extract
Presiding Officer
Case details
As recorded by the court registry
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