Disposed

Devilal Gangadharji Charkha v. Shri Chhatrapati Rajashri Shahu Urban Cooperative Bank Limited

DRT15 Jul 2023SA/35/2023

Case brief

AI extract

What is this about?

The DRT in Aurangabad dismissed a Securitisation Application where the applicant, a guarantor, challenged the bank's action. The court held that banks can proceed against guarantors without first exhausting rights against borrowers under the relevant Act.

What did the court decide?

The Securitisation Application No.35/2023 was disposed off and the file was consigned to the Record Room.

Devilal Gangadharji Charkha versus Shri… — Contract and Commercial Disputes | 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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15. Sr.	07.20 No.69	23 SA No.35/2023
Classifica tion	No. of Exh.
		SECURITISATION APPLICATION No.35/2023 Devilal Gangadharji Charkha ..Applicant Versus Shri Chhatrapati Rajashri Shahu Urban Co- operative Bank Ltd. & others ..Respondents Mr. Manoj D. Shinde - Advocate for the applicant. Mr. K.J. Suryawanshi - Advocate for the respondent no.1 & 2. The matter is taken through VC.
	06	1. Service Affidavit (Exhibit-06) filed by the applicant which is taken on record. 2. The learned counsel appearing for the applicant submits he is the guarantor in the matter and without taking steps against the property of the borrower the bank is proceeding against the guarantors.
		3. The law of the land is very clear the bank can choose to
		proceed against the borrower or against the guarantor and even if they choose to proceed against the guarantor without enforcing their right against the borrower that is also valid in the law. Further under the ACT the borrower includes guarantors.
		4. In this circumstances, this Securitisation Application shall have to be disposed off.
J]		(SA No.35/2023) Page 1 of 2

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[SBJ]

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

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ORDER SHEET

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In view of the above statement made by the counsel for the applicant, I pass the following order through video conferencing.

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ORDER
A. The Securitisation Application No.35/2023 stands
disposed off.
B. Consign the file to the Record Room.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ]

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(SA No.35/2023) Page 2 of 2

Devilal Gangadharji Charkha v. Shri Chhatrapati Rajashri Shahu Urban Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

Devilal Gangadharji Charkha v. Shri Chhatrapati Rajashri Shahu Urban Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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