The Debts Recovery Tribunal allowed the applicant's request for a notice and settled the terms of payment for a loan dispute, directing a partial deposit and future cheques to secure the outstanding amount.
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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
| 05.10. Sr. No |
2023 .15 SA No. 325/2023 |
|
|---|---|---|
| Classific ation |
No. of Exh. |
|
| SECURITISATION APPLICATION NO. 325/2023 | ||
| Karim Maheboob Syed ..Applicant Versus The DCB Bank Ltd. ..Respondent/s Mr. S.G. Dodya – Advocate for the applicant. Mr. D.K. Thote – Advocate for the respondent-bank. The matter is taken through Video Conference. 1. In this matter the learned counsel for the applicant requests for issuance of notice to the respondents. 2. Issue notice to the respondents. 3. The learned counsel for the respondent-bank on caveat appears and submits that the loan outstanding is approximately Rs.21 Lacs (Rupees Twenty-One Lacs only). 4. The learned counsel for the respondent-bank submits that there are further two loan accounts of the same borrower and only in one of the matters they have deposited Rs.10 Lacs (Rupees Ten Lacs only). 5. The counsel for the applicant submits that since in second matter they have not objected for taking physical possession and they have not pressed the same matter. 6. The learned counsel for the applicant submits that he will deposit the amount as per the directions of this Tribunal. 7. Let the applicant deposit Rs.5 Lacs (Rupees Five Lacs only) todayandgive three cheques of Rs.5 Lacs (Rupees |
[SBJ] (SA No.325/2023) Page 1 of 3
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
| Five Lacs only) each of dated 31stOctober, 2023, |
|---|
| 30thNovember, 2023 and 20thDecember, 2023 and give |
| an undertaking that by 31stDecember, 2023 he will pay |
| the balance amount of interest also. |
11.In view of the above, I pass the following order through video conferencing. ORDER
A. The Securitisation Application No.325/2023 stands disposed off.
B. Let the applicant deposit Rs.20 Lacs (Rupees Twenty Lacs only) as under:
[SBJ] (SA No.325/2023) Page 2 of 3
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
“Rs.5 Lacs (Rupees Five Lacs only) today itself alongwith three cheques of Rs.5 Lacs (Rupees Five Lacs only) each dated 31st October, 2023, another cheque of dated 30th November, 2023 and another cheque dated 20th December, 2023 with an undertaking that by 31st December, 2023 they will clear the entire liability of the respondent-bank”.
[SBJ] (SA No.325/2023) Page 3 of 3
1 issue framed by the court
Whether the applicant is entitled to terms condition for sustaining the Securitisation Application.
Karim Maheboob Syed
The DCB Bank Ltd.
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
