Application for stay on execution proceedings under SARFAESI Act dismissed on grounds of proper mortgage registration with CERSAI.
Rejection of application for stay and setting aside notice for physical possession.
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| 29/11/2023 | Ex. No. Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. I.A. No. 3362/2023 In SA 229 of 2023 Mohammad Nasim Iqbal Khan Vs IDBI Bank |
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| Advocate Ravi Jadhav a/w Himanshu Patel appeared for the Applicant. Advocate appeared for the Respondent. I.A. No. 3362/2023 1. By way of the present I.A. the Applicant is praying to pass stay order on the execution proceedings to be taken by the Respondent Bank on 30.11.2023; and set aside notice dt. 08.11.2023 issued by the Respondent for taking physical possession of the Secured Assets on 30.11.2023. 2. Ld. Counsel for the Applicant submits |
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| that the Respondent did not register mortgage as required u/Sec. 26D of the |
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| SARFAESI Act 2002, therefore, he contends that the entire action of the Respondent Bank is liable to be quashed. 3. Ld. Counsel for the Respondent informs |
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| that mortgage of the Applicant is duly |
registered with CERSAI, therefore, the objection of the Applicant is not sustainable. 4. As the mortgage is duly registered with the CERSAI, therefore, I do not find any merit in the present I.A. thus the same is hereby rejected.
P.O. DRT-I
SP/-8
Mohammad Nasim Iqbal Khan
IDBI Bank
Dr. Rekha G. Dhakar
As recorded by the court registry
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