Disposed

Mr Mogal Mirza Shakil Big v. Bajaj Housing Finance Ltd.

DRT4 Jul 2023SA/179/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of the securitisation application. The applicant had paid dues and sought an upgrade. The respondent sought an undertaking for future payments. The application was disposed with liberty to resume proceedings if future defaults occur.

What did the court decide?

Securitisation application and all pending interlocutory applications disposed off with liberty to respondent to proceed with recovery if future defaults occur.

Mr Mogal Mirza Shakil Big versus Bajaj Housing Finance Ltd. — 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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	04.07.2 Sr. No.	023 12	SA No. 179/2023
Classific ation	No. of Exh.
			SECURITISATION APPLICATION NO. 179/2023
		Mr M Versu Bajaj Mr. De Mr. Va The ma 1. 2. 3. 4.	ogal Mirza Shakil Big ..Applicant s Housing Finance Ltd ..Respondent shpande K B - Advocate for the applicant. kil Satyajit R – Advocate for the defendants. tter is taken through Video Conference. In this matter the learned counsel of the applicant submits that they have paid the entire overdue amount and even the current instalment is also paid. According to him the account need to be upgraded. The counsel for the respondent submits that the entire overdue along with the current EMIS has been paid. He seeks and undertaking from the applicant to regularly pay the EMIS. There is no use in giving the undertaking because he do not know about the future circumstance. However, as per the RBI guidelines it will take one year they will monitor this account for one year so that it can come out of the NPA status. Counsel submits that the account is standard as on today. This SA stands disposed off with liberty to the respondent. If the two continue installments get defaulted then they may continue with their recovery proceedings by giving proper notice to the applicants.
		A. B. C.	ORDER The Securitisation Application No.179/2023 stands disposed off. All pending interlocutory applications also stand disposed off. File be consigned to the record room.
			(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (.SA No.179/2023) Page 1 of 1

Mr Mogal Mirza Shakil Big v. Bajaj Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

Mr Mogal Mirza Shakil Big v. Bajaj Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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