Disposed

Anil Seshadri Iyengar v. Pegasus Assets Reconstruction Pvt. Ltd.

DRT3 Oct 2023SA/192/2023

Case brief

AI extract

What is this about?

The court directed the applicant to deposit Rs. 25 Lakhs immediately and Rs. 35 Lakhs within 20 days to save possession of his dwelling unit pending settlement. Default would lead to immediate eviction without notice.

What did the court decide?

Direction to deposit Rs. 25 Lakhs by next day and Rs. 35 Lakhs within 20 days; condition for non-possession by respondent if deposits made.

Anil Seshadri Iyengar versus Pegasus Assets… — Civil Procedure and Limitation | DRT (2023)

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03/10/2023	Ex. No. Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. IA No. 2961/2023 *IA No. 2962/2023* in *SA 192 of 2023* *Anil Seshadri Iyengar Vs Pegasus Assets* *Reconstruction Pvt Ltd*	Next date
	Advocate Gaurang Kinkhabwala appeared for the Applicant. Advocate R.L. Motwani appeared for the Respondent no.1. IA No. 2961/2023 and IA No. 2962/2023 1. Ld. Counsel for the Applicant submits that Applicant has a good case on merit
	however, to protect the property Applicant is ready to deposit some amount. 2. Ld. Counsel for the Respondent submits
	that Applicant may be directed to deposit sufficient amount. 3. Looking to the facts that property in question is a single dwelling unit of the Applicant and Applicant alongwith his family including old parents is residing
	in the same house, further the Applicant

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is ready to settle the matter therefore in the interest of justice the Applicant is hereby directed to deposit Rs. 25 Lakhs by tomorrow before 12 p.m. on 04/10/2023 the Applicant has to deposit further amount of Rs. 35 Lakhs within 20 days from today and also Applicant will give his proposal for settlement within 10 days from today to the Respondent. 4. In case Applicant deposit the amount as directed herein above, the Respondent shall not take possession of the property in question for tomorrow. However, in case Applicant commit any default, the Respondent may proceed and take possession of the property in question that too without any further notice to the Applicant and also Applicant shall surrender the peaceful possession of the property in question to the Respondent bank. 5. In case the police assistance is required the concerned police station shall provide necessary police assistance to the authorised officer of the bank.

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With the above said direction the present IAs are hereby disposed off.

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P.O. DRT-I

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Sgj/-Suppl1

Anil Seshadri Iyengar v. Pegasus Assets Reconstruction Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Anil Seshadri Iyengar v. Pegasus Assets Reconstruction Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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