Disposed

Maruti Tyres v. Bank of Baroda

DRT18 Apr 2023SA/30/2023

Case brief

AI extract

What is this about?

The matter was heard regarding a Securitisation Application filed by Maruti Tyres against Bank of Baroda. The Presiding Officer disposed of the application noting that the respondent bank could proceed with securities due to an IBC moratorium unless the IBC proceedings were quashed.

What did the court decide?

Securitisation Application No.30/2023 disposed of; to be revived if IBC proceedings are quashed.

Maruti Tyres versus Bank of Baroda — Insolvency and Bankruptcy | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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	18.04. Sr. No	2023 .31 SA No. 30/2023
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.30/2023 Maruti Tyres ..Applicant Versus Bank of Baroda ..Respondent Mr. A.A. Yadkikar– Advocate for the applicant. Mr. S.R. Vakil– Advocate for the respondent. The matter is taken through Video Conference. 1. In this matter a Petition under Section 95 has been filed against the Proprietor of the applicant and according to the counsel for the respondent-bank in view of the moratorium Section 96 of IBC Act they will be able to proceed against the securities. 2. The Securitisation Application has to be disposed off on this legal ground however the opportunity is granted to the applicant in case the IBC proceedings are quashed and
		cancelled or set-aside they can get this Securitisation Application revived. 3. In view of the above, I pass the following order through video conferencing. ORDER
		A. The Securitisation Application No.30/2023 stands disposed

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[SBJ] ( SA No.30/2023) Page 1 of 2

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

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ORDER SHEET

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off.

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B. In case the IBC proceedings are quashed and cancelled or setaside they can get this Securitisation Application revived.

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C. File be consigned to the record room.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] ( SA No.30/2023) Page 2 of 2

Maruti Tyres v. Bank of Baroda

Case brief

What is this about?

What did the court decide?

Maruti Tyres v. Bank of Baroda

Case brief

What is this about?

What did the court decide?

What the court decided

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