Disposed

Shamit Infrastructure v. State Bank of India

DRT19 Dec 2023SA/155/2022

Case brief

AI extract

What is this about?

The DRT disposed of a securitization application confirming an existing stay. The court directed the respondent bank not to proceed without a 15-day notice and granted liberty to revive proceedings when appointed. No adjudication on the application's merits was made.

What did the court decide?

Stay on securitization proceedings continued. Liberty granted to applicants to revive proceedings when the bank proceeds with the matter, contingent on providing 15 days prior notice.

Shamit Infrastructure versus State Bank of India — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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	19.12. Sr. No	2023 .18 SA No. 155/2021
Classific ation	No. of Exh.
		SECURITIZATION APPLICATION NO. 155/2021 Sunder Sports Planet ..Applicant Versus The Malkapur Urban Co-Op Bank Ltd. ..Respondent Mr. S.R.Vakil h/for Mr. A.K.Gawali - Advocate for the applicant- bank. Mrs. Chitra Deshpande h/for Mr. K.B.Deshpande – Advocate for the Respondent Bank. The matter is taken through Hybrid 1. The learned counsel for the respondent bank submits that the liquidator has not taken the charge till date. 2. The learned counsel for the applicant submits that stay is in operative as against the bank. Since there is no liquidator appointed, the bank is not able to take any decision. 3. In view of the above, I pass the following order: ORDER
		A. The Securitisation Application No.155/2021 is hereby disposed off confirming the stay with liberty to the applicants to revive the proceedings as and when the bank proceeds in the matter.
		B. The bank is shall not proceed in the matter without giving 15 days prior notice to the applicants. C. Consign the file to the Record Room and orders be uploaded on official web-site.
		(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[APK] (SA No.155/2021) Page 1 of 1

Shamit Infrastructure v. State Bank of India

Case brief

What is this about?

What did the court decide?

Shamit Infrastructure v. State Bank of India

Case brief

What is this about?

What did the court decide?

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