In a non-prosecution order, the Debts Recovery Tribunal dismissed the Securitisation Application regarding symbolic possession as lacking merit due to adequate notice via legal representatives.
Securitisation Application No.320/2023 stood dismissed; pending interlocutory applications 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
| 05.10. Sr. No |
2023 .04 SA No.320/2023 |
|
|---|---|---|
| Classific ation |
No. of Exh. |
|
| SECURITISATION APPLICATION No.320/2023 | ||
| Adarsh Ginning and Pressing Factory ..Applicant Versus Indian Overseas Bank Ltd. ..Respondent None for the applicant. The matter is taken through VC. 1. In this matter the Securitisation Application has been filed against symbolic possession. 2. It is submitted that all the legal heirs have not been the notices. |
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| 3. I have gone through the pleadings. There is no denial of taking of the loan. The borrower and the one of the guarantor is the legal representative of the deceased defendant no.3. 4. The notices have been issued to the defendants through legal representatives who are also the borrowers and guarantors. The Tribunal finds no merit in this matter hence liable to be dismissed. 5. In view of the above, I pass the following order through video conferencing. ORDER |
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| A. The Securitisation Application No.320/2023 stands dismissed for non-prosecution. B. All the pending interlocutory applications stands disposed off accordingly. C. File be consigned to the record room. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[SBJ] ( SA No.320/2023) Page 1 of 1
Adarsh Ginning and Pressing Factory
Indian Overseas Bank Ltd.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
