Debts Recovery Tribunal disposed of an Interlocutory Application and another Securitisation Application as infructuous because no bids were received for the asset under sale.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
14.09.2023
| Sr | . No.2 | 1 SA No.274/2023 |
|---|---|---|
| Classific ation |
No. of Exh. |
|
| SECURITISATION APPLICATION No.274/2023 | ||
| Padmakant Ramji Dubey ..Applicant Versus Union Bank of India ..Respondent Mr. J.N.Singh – Advocate for the applicant. Mr.A.A.Mishra – Advocate for the respondent bank. The matter is taken through Video Conference. 1. The Learned counsel for the applicant submits that they have given OTS proposal with the bank. The said OTS has been declined and it is stated that they will have to pay the entire dues. |
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| 2. The Learned counsel for the applicant further submits that as per the scheme they are entitle for a settlement |
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| irrespective of the fact that the scheme is non discreminary. |
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| 3. Let the applicant to give fresh OTS proposal and bank to consider the same as per their own policy. |
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| 4. The relief sought in the securitisation application is for setting aside of the sale notice dated 03.08.02023 and has also filed Interlocutory Application no. 1409/2023 for stay. |
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| 5. The learned counsel for the respondent bank submits that |
[APK] (SA No.274/2023) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
no bids have been received and as such Interlocutory
Application and Securitisation Application both become
Infructuous and request to dispose of the same.
6. In view of the above, I pass the following order through
Video Conferencing.
ORDER
A. Interlocutory Application no. 1409/2023 and
Securitisation Application No.326/2022 both stands
disposed off as infructuous.
B. All interim applications if any pending stands disposed
off accordingly.
C. Consign the file to the Record Room and orders be
uploaded on official web-site.
(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad
[APK] (SA No.274/2023) Page 2 of 2
Padmakant Ramji Dubey
Union Bank of India
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
