The DRT hearing securedilty application and an interlocutory application seeking stay on District Magistrate's possession order. Court held there was no challenge to the DM's order and disposed of both applications without addressing the substantive pleas.
Interlocutory Application and Securitisation Application both dismissed/disposed off.
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
| 0 S |
7.06.2 r. No. |
023 09 SA No.310/2022 |
|---|---|---|
| Classif ication |
No. of Exh. |
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| SECURITIZATION APPLICATION No.310/2022 | ||
| Jeev Urja Pvt. Ltd. ..Applicant Versus Abhyudaya Co-Operative Bank Ltd. ..Respondent |
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| Mr. M.D. Godhamgaonkar - Advocate for the applicant through VC. Mr. Balraj B. Kulkarni – Advocate for the respondent. The matter is taken through hybrid. |
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| 1. In this matter Interlocutory Application No.593/2023 has been moved for staying the possession ordered by the District Magistrate. |
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| 2. I have gone through the Securitisation Application. The | ||
| securitisation application is only challenging the | ||
| symbolic possession notice dated 17thJune, 2022. There | ||
| is no challenge is being made to the 13(2) notice in this | ||
| proceeding. There is no challenge is being made to the | ||
| proceeding before the District Magistrate. The only is | ||
| the relief sought is that the respondent-bank may be directed to provide Covid 19 package and extend the |
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| moratorium period upto 30thMay, 2022 and or an alternate prayer is made. The respondent bank may be directed to permit for second charge over the secured |
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| assets without losing their right, and agrees to provide | ||
| the working capital. This prayer do not fall under the |
[SBJ] (SA No.310/2022) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
| purview of the Tribunal. The bank is at liberty to |
|---|
| consider the same. There is no cause to stay the |
| possession. There is no challenge to the orders of the District Magistrate. |
| 3. Interlocutory Application No.593/2023 stands dismissed since there is only challenge to the symbolic possession. There is no challenge to the District Magistrate’s order, this Securitisation Application also stands disposed off. 4. In view of the above, I pass the following order through video conferencing. ORDER |
| A. Interlocutory Application No.593/2023 stands dismissed as well as the Securitisation Application No.310/2022 also stands disposed off. B. File be consigned to the record room. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[SBJ] (SA No.310/2022) Page 2 of 2
2 issues framed by the court
Whether the District Magistrate's order for possession should be stayed pending challenges in the interlocutory application.
Whether the Guarantor's Application challenging only the symbolic possession notice has merit before the Tribunal.
Jeev Urja Pvt. Ltd.
Abhyudaya Co-Operative Bank Ltd.
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
