Debts Recovery Tribunal dismissed the securitisation application because the second instalment of Rs. 45 Lacs from a Lok Adalat settlement was not deposited, granting a recovery certificate to the respondent bank.
Recovery certificate to be issued by the respondent bank on the basis of the Lok Adalat Award.
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
| 18. Sr. |
04.20 No.19 |
23 SA No.300/2022 |
|---|---|---|
| Classific ation |
No. of Exh. |
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| SECURITISATION APPLICATION No.300/2022 | ||
| Sadguru Polyflim Industries ..Applicants Versus Canara bank ..Respondent Mr. A.T. Ghute h/for Mr. K.J. Suryawanshi– Advocate for the applicant. Mr. G.A. Rajput – Advocate for respondent. The matter is taken through Video Conference. 1. In this matter the learned counsel for the respondent-bank submits that the matter was settled in the Lok Adalat. Lok Adalat Award was passed. The first instalment was deposited but the second instalment of Rs.,45 Lacs (Rupees Forty-Five Lacs only) due on 31stMarch, 2023 |
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| were not deposited and even on 12thApril, 2023 Rs.15 Lacs (Rupees Fifteen Lacs only) were deposited. |
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| 2. In these circumstances, this Securitisation Application has | ||
| to be dismissed and the respondent-bank will be at liberty to get the Recover Certificate issued on the basis of the Lok Adalat Award. |
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| 3. In view of the above, I pass the following order through video conferencing. |
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| ORDER A. The Securitisation Application No.300/2022 stands |
[SBJ] (SA No.300/2022) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
dismissed.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad
[SBJ]
(SA No.300/2022) Page 2 of 2
Sadguru Polyflim Industries
Canara bank
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
