Trimar Abrasives v. Canara Bank

IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

ORDER SHEET

1 S	4.09.20 r. No.1	23 6 SA No.209/2023
Classifi cation	No. of Exh.
		SECURITIZATION APPLICATION No.209/2023 Trimar Ambasives ..Applicant Versus Canara Bank ..Respondent Mr. A.A. Yadkikar - Advocate for the applicant. Mr. V.R. Patil – Advocate for the respondent-bank. The matter is taken through VC. 1. The learned counsel for the applicant submits that the mater has been settled between the parties for 3.60 crores as per the terms of settlement i.e. 25% to be paid by 30thSeptember, 2023 & balance till 30thDecember,2023.
		2. The learned counsel for the applicant has filed negotiated settlement terms (Exhibit-06) which is taken on record. 3. In view of the statement made by the learned counsel for the applicant, I pass the following order through Video Conferencing. ORDER A. Securitisation Application No.209/2023 stands disposed off as settled. B. The payment is being made by Mr. Raosaheb B. Patil who is partner and guarantor and as such shall have right of subrogation. Bank shall handover papers & possession to him and he shall be entitled to recover the same from others and till that time can enjoy the property. C. All interim applications if any pending stands disposed of. D. Consign the file to the Record Room and orders be uploaded on official web-site.
		(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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