Dismissed

Akash Electrical Construction Work v. State Bank of India

DRT7 Oct 2023SA/318/2023

Case brief

AI extract

What is this about?

This is a Quirky one-line order dismissing a securitisation application filed under the SARFAESI Act. The Presiding Officer, accepting counsel's submission that the debt has been settled via one-time settlement and the account is closed, dismissed the application and consigned the file to the record room.

What did the court decide?

Dismisssed the Securitisation Application as the account is closed and nothing remains to be paid.

Akash Electrical Construction Work versus State Bank of India — Banking and Recovery | DRT (2023)

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

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07 Sr	.10.20 . No.1	23 3 SA No.318/2023
Classifi	ti No. of	E h
		SECURITISATION APPLICATION No.318/2023
		Akash Electrical Construction Work ..Applicant Versus State Bank of India ..Respondent Mr. Tushar Daware h/for Mr. P.S. Gaikwad– Advocate for the applicant. The matter is taken through Video Conference. 1. The learned counsel appearing for the applicant submits that the account has been settled with the respondent-bank and the entire amount under one time settlement has been deposited with the respondent bank and the account is closed.He requests for disposal of the matter. 2. In view of the above statement made by the counsel for the applicant, I pass the following order through video conferencing.
		ORDER
		A. As the account is closed and nothing remains to be paid the Securitisation Application No.318/2023 stands dismissed.
		B. Consign the file to the Record Room.
		(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ]

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(SA No.318/2023) Page 1 of 1

Akash Electrical Construction Work v. State Bank of India

Case brief

What is this about?

What did the court decide?

Akash Electrical Construction Work v. State Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

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