Allowed

Nitin Manohar Parab v. Piramal Capital and Housing Finance Ltd.

DRT28 Aug 2023SA/356/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the withdrawal of Securitization Application No.356 of 2022 by the applicant, releasing Rs.30 lakhs with accrued interest to the applicant after the secured creditor filed an affidavit opposing no objection.

What did the court decide?

Securitization Application dismissed as withdrawn; sum of Rs.30 lakhs with accrued interest released to applicant.

Nitin Manohar Parab versus Piramal Capital and Housing… — Company and Corporate | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

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Sr. No.10

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INTERLOCUTORY APPLICATION No.1538 of 2023 AND INTERLOCUTORY APPLICATION No.1897 of 2023 In

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SECURITISATION APPLICATION NO.356 of 2022

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Mr Nitin Manohar Parab

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… Applicant

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Versus

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Piramal Capital Housing & Finance … Defendants Ltd. & Ors.

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Mr Charles De Souza and Mr V.N. Ajikumar i/b M/s. VNA Legal – Advocates for the applicant.

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Mr Shadab Siddiqui i/b Mr R.L. Motwani – Advocate for defendant no.1. None for other defendants.

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Shri Deepak M. Thakkar Presiding Officer, 28^th August 2023.

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ORDER

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The application styled as I.A. No.1538 of 2023 is filed to release the amount in the sum of Rs.30 lakhs with accrued interest for the reasons recorded in paragraphs 11, 12 and 21. The secured creditor has filed affidavit stating that it does not oppose the withdrawal/release of the amount in the sum of Rs.30 lakhs with accrued interest.

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In view of the withdrawal of the amount in the sum of Rs.30 lakhs with accrued interest, nothing survives in the Securitization

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Page 1 of 3

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Application. The applicant seeks permission to withdraw the Securitization Application. Permission granted.

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By consent, Interlocutory Application No.1538 of 2023 and I.A. No.1897 of 2023 is allowed with no order as to costs.

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Order passed in present application shall not come in the applicant’s way in any other proceedings against the applicant vendor.

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Sd/-

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(Deepak M. Thakkar) Presiding Officer, DRT-2, Mumbai

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Nidhi

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Page 2 of 3

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

ORDER SHEET

28.08.2023

Sr. No.10

		SA No.356 of 2022
classifi -cation	No. of Exh.	Mr Nitin Manohar Parab Vs. Piramal Capital & Housing Finance Ltd. & Ors.
		Mr Charles De Souza and Mr V.N. Ajikumar i/b M/s. VNA Legal – Advocates for the applicant. Mr Shadab Siddiqui i/b Mr R.L. Motwani – Advocate for defendant no.1. None for other defendants.
	15 16	1. Mr Siddiqui has presented affidavit (exhibit-15), which is taken on record. 2. Mr De Souza has presented I.A. No.1897 of 2023 supported by affidavit (exhibit-16), which is taken on record. 3. Orders in I.A. No.1538 of 2023 and I.A. No.1897 of 2023 passed separately. 4. In view of the order passed in I.A. No.1538 of 2023 and
		I.A. No.1897 of 2023, Securitization Application No.356 of 2022 stands dismissed as withdrawn with no order as to costs. 5. The learned Registrar is directed to release the amount to the applicant in the sum of Rs.30 lakhs with accrued interest.
		Sd/- Presiding Officer, DRT-2, Mumbai

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Nidhi

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Page 3 of 3

Nitin Manohar Parab v. Piramal Capital and Housing Finance Ltd.

Case brief

What is this about?

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Nitin Manohar Parab v. Piramal Capital and Housing Finance Ltd.

Case brief

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