Applicant failed to adhere to the repayment timeline and undertaking regarding non-possession of assets. Special Appeal was dismissed.
Special Appeal was dismissed; possession of secured assets authorized as per bank's admission.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/192/2022 BHAVNA PATIAL Vs THE KANGRA CENTRAL COOPERATIVE BANK LIMITED
11.01.2023 Item No.53
Present: Sh.Sachin Sharma, proxy for Sh.Yogesh Kumar, Counsel for the Applicant. Sh.Anil Kumar Sharma, Counsel for respondent bank.
On 06.09.2022, applicant had made statement that the sum of Rs.12 lacs is due and he would deposit Rs.2 lacs per month starting from 12.09.2022. It is admitted by the parties that applicant has deposit Rs.4.50 lacs till 31.12.2022. Counsel for the applicant had also made statement that in case applicant adheres to the timeline, bank would not take the possession of secured assets. Since applicant has failed to adhere to the timeline and undertaking given by him, the present SA is hereby
dismissed .
File be consigned to record room, after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
MANOJ
BHAVNA PATIAL
THE KANGRA CENTRAL COOPERATIVE BANK LIMITED
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
