Disposed

Renuka Prakash Kore v. Bank of Maharashtra

DRT15 Nov 2023SA/217/2022

Case brief

AI extract

What is this about?

Security Application No.217/2022 in a loan dispute. Applicant offered One Time Settlement (OTS) subject to interest waiver. Tribunal disposed of application directing bank to consider OTS proposal. No substantive orders on the merits of the debt dispute.

What did the court decide?

Applicant directed to submit OTS proposal within one week; Respondent bank directed to consider it within one month.

Classific
ation

No. of
Exh.

SECURITIZATION APPLICATION No.217/2022
Renuka Prakash Kore
..Applicant
Versus
Bank of Maharashtra
..Respondent
Mr. P.T. Dhage - Advocate for the applicant.
Mr. A.A. Mishra- Advocate for the respondent.
The matter is taken through VC/hybrid.

1. The reply has been filed by the respondent bank. The
learned counsel for the applicant argued the matter and
submits that the loan was granted for Rs. 15 lac and
another loan approximately Rs. 2,90,000/- was granted.

2. According to the learned counsel for the applicant the
notice under section 13(2) was given on 07.01.2022 for Rs.
19,49,654/-.

3. The learned counsel for the applicant submits that the
applicant is ready and willing to pay this amount if the
interest and expenses with effect from 01.01.2022 was
waived.

4. The request made by the learned counsel for the applicant
is reasonable, let the bank consider the same since the
applicant has challenged only the symbolic possession
notice, liabilities are admitted.
5. The Tribunal do not find any reason to continue with the

proceeding. However the bank is directed to consider the
request of the applicant to consider the OTS of the applicant at this 13(2) notice amount of Rs. 19,49,654/-, within 30 days.
6. The Learned counsel for the applicant submits the applicant is able to make the payment within three months from the acceptance of the OTS.
7. In view of the above, I pass the following order through video conferencing. ORDER
A. The Securitisation Application No.217/2022 stands disposed off with no orders as to costs.
B. The applicant is directed to given OTS proposal with the bank within one week.
C. The respondent bank is directed to consider the same within one month from receipt of OTS proposal.
D. Accordingly, all the Interlocutory Applications stand disposed off.
E. Consign the file to the Record Room and orders be uploaded on official web-site.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

proceeding. However the bank is directed to consider the

request of the applicant to consider the OTS of the
applicant at this 13(2) notice amount of Rs. 19,49,654/-,
within 30 days.

6. The Learned counsel for the applicant submits the
applicant is able to make the payment within three months
from the acceptance of the OTS.

7. In view of the above, I pass the following order through
video conferencing.
ORDER

A. The Securitisation Application No.217/2022 stands
disposed off with no orders as to costs.

B. The applicant is directed to given OTS proposal with the
bank within one week.

C. The respondent bank is directed to consider the same
within one month from receipt of OTS proposal.

D. Accordingly, all the Interlocutory Applications stand
disposed off.

E. Consign the file to the Record Room and orders be
uploaded on official web-site.

(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

Renuka Prakash Kore v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

Renuka Prakash Kore v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

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