The Tribunal dealt with an application challenging a possession notice. It directed the applicant to deposit Rs. 5 lakh, preventing further possession actions and requiring sympathetic consideration of an OTS proposal.
Applicant to deposit Rs. 5,00,000/- today; Bank not to take possession and to consider OTS proposal sympathetically.
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.
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET
| 16. Sr. |
06.20 No.11 |
23 SA No.187/2023 |
|---|---|---|
| Classific ation |
No. of Exh. |
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| SECURITISATION APPLICATION No.187/2023 Rajshri Bharat Shinde ..Applicant Versus Osmanabad Janata Sahakari Bank ltd. & another ..Respondents Mr. Manoj D. Shinde – Advocate for the applicants. Mr. S.B.Chaudhari – Advocate for the respondent. The matter is taken through Video Conference. 1. Issue notice to the respondent bank. notice accepted by the learned counsel for the respondent bank who appears on the VC. 2. The applicant is challenging the possession notice issued by the revenue authority for possession to be taken on 16th June, 2023 i.e. today itself. Limitation is also counted and accordingly this possession which is scheduled today is only under challenge. The learned counsel for the applicant submits that they are ready to deposit an amount of Rs. 3 lac today itself. 3. The learned counsel for the respondent bank submits that total outstanding is more than Rs.40 lacs as on today. 4. The Tribunal is of opinion without going into the merit if the applicant is ready and willing to deposit 20% of the outstanding i.e. Rs.8.50 lac, the bank will not proceed further. 5. The learned counsel for the applicant submits that demand notice is of Rs. 21 lacs and he cannot deposit Rs.8.50 lacs |
[APK] (SA No.187/2023) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
| t | oday and ready to deposit Rs.5 lac today. |
|---|---|
| 6. I | n view of the above, I pass the following order : ORDER |
| A. | Interlocutory Application no. 945/2023 is disposed off. |
| B. | The applicant is directed to deposit an amount of Rs.5,00,000/- with the respondent bank today itself and handover a cheque of Rs. 5 lac dated 15thJuly, 2023 with an undertaking to honour the same. |
| A. | If the applicant complied the above said condition the respondent bank is directed not to take the possession of the property of the applicant. |
| B. | Looking in to the fact of payment of this Rs.10 lac, the bank is directed to consider the OTS proposal of the applicant sympathetically as per their own policy. |
| C. | Since there is no other challenge Securitisation Application No.187/2023 stands disposed of. |
| D. | All pending IA in the proceeding if any are disposed of accordingly. |
| E. | Consign the file to the Record Room. |
| Both site. |
the parties may download the order from the official web- |
| (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[APK] (SA No.187/2023) Page 2 of 2
1 issue framed by the court
Whether the applicant could prevent possession proceedings by depositing a specific sum.
Rajshri Bharat Shinde
Osmanabad Janata Sahakari Bank ltд & another
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
