Disposed

Mr Mallama Digambar Abachane v. Mahindra Home Finance Limited

DRT17 Nov 2023SA/157/2023

Case brief

AI extract

What is this about?

In a securitisation application under the securitisation process, the Debts Recovery Tribunal disposed of the matter where the respondent claimed the account was regularised but remained NPA for one year per RBI Guidelines.

What did the court decide?

The Securitisation Application No.157/2023 stands disposed off. The respondent-bank will be at liberty to take action as per law.

Mr Mallama Digambar Abachane versus Mahindra Home Finance… — 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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1 S	7.11.2 r. No.	023 69 SA No.157/2023
Classifi cation	No. of Exh.
		SECURITIZATION APPLICATION No.157/2023
		Mallama Digamber Abachane ..Applicant Versus Mahindra Home Finance Limited ..Respondent None for the applicant. Mr. U.N. Shete – Advocate for the respondent-company. The matter is taken through VC. 1. In this matter the learned counsel appearing for the respondent-company submitted that the account has been regularised. He further submits that though the account has been regularised but as per the RBI Guidelines it will remain as NPA status for one year and in case the default across in between they may be permitted to continue with the securitisation action. 2. In these circumstances this Securitisation Application shall be disposed off.
		3. In view of the above, I pass the following order through video conferencing.
		ORDER A. The Securitisation Application No.157/2023 stands disposed off. B. The respondent-bank will be at liberty to take action as per law. C. File be consigned to the record room-site. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (SA No.157/2023) Page 1 of 1

Mr Mallama Digambar Abachane v. Mahindra Home Finance Limited

Case brief

What is this about?

What did the court decide?

Mr Mallama Digambar Abachane v. Mahindra Home Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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