The Debt Recovery Tribunal disposed of a secured assets application after all respective parties, including the applicant and borrowers, provided undertakings to redeem the loan or surrender possession of the secured asset within fifteen days.
Application no. 18 of 2022 is disposed of based on mutual undertakings.
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.
| 05.09.2023 | Roznama-MDRT-II S.A. No. 18 of 2022 |
Next date |
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| Advocate Mr. S.A.A. Naqvi along with Ms. Anamika Tiwari for the Applicant. Advocate Mr. Santosh Bhide for the Respondent No.1. Other Respondents absent. Respondent No.4 – Mr. Nitin Krishnamohan Koppikar is father of the Applicant and Respondent Nos.2 and 3 and husband of Respondent No.5. Respondent No.4 himself is also co- borrower and has given undertaking before this Tribunal in presence of counsel for the Applicant that he shall redeem the loan account within 15 days from today and in case he fails to redeem the loan account then, he shall surrender the possession of the secured asset and the undertaking given by the Respondent No.4 is at his own sweet will. The Applicant’s counsel on behalf of the Applicant has given undertaking to handover the possession of the secured asset in case the Respondent No.4 fails |
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| to redeem the loan account. | |
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| 05.09.2023 | Respondent No.2 –Sanjeev Nitin Koppikar, Age 41, Respondent No.3 – Nikhil Nitin Koppikar, Age 42 and |
| S.A. No. 18 of 2022 |
Respondent No.5 – Nirmala Nitin Koppikar, Age 73, are present in the Tribunal and on their own have also |
| given undertaking to get account redeemed within 15 days from today otherwise, to voluntarily handover peaceful physical possession of the secured asset by 23.09.2023 to the Respondent No.1. It is made clear that in case, the Applicant and Respondent Nos.2 to 5 fails to get the account redeemed and show reluctance to handover physical possession then, the Authorised Officer of the Respondent No.1 would be at |
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| liberty to take physical possession without seeking any further order from Ld. CMM and the Authorised Officer shall be entitled to the Police help from the concerned Police Station. In view of the undertaking given by the respective parties, nothing survives |
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in this S.A. Hence, Securitisation Closed
Application No.18 of 2022 stands
disposed of.
Sd/-
I/c P.O.
DRT-II
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Applicant
Respondent No.1
Respondent No.2
Respondent No.3
Respondent No.4
Respondent No.5
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
