Disposed

Mr Ankit Suresh Wadhwa v. Capri Global Capital Limited

DRT19 Jan 2023SA/369/2022

Case brief

AI extract

What is this about?

Interlocutory Application No.27 of 2023 was disposed of as not pressed. Interlocutory Application No.145 of 2023 was allowed by consent following the withdrawal of SARFAESI action measures, resulting in the disposal of the Securitization Application No.369 of 2022.

What did the court decide?

All interim orders and the Securitization Application disposed of with no order as to costs following withdrawal of SARFAESI measures.

Mr Ankit Suresh Wadhwa versus Capri Global Capital Limited — Company and Corporate | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

¶2

(BEFORE HON’BLE PRESIDING OFFICER)

¶3

Sr. No.902

¶4

INTERLOCUTORY APPLICATION No.27 of 2023

¶5

In SECURITISATION APPLICATION NO.369 of 2022

¶6

Mr. Ankit Wadhwa … Applicant

¶7

Versus

¶8

Capri Global Capital Ltd. & Ors. … Defendants

¶9

Mr Rajesh Nagori i/b Ms Sanjana Ghogare – Advocate for the applicant. Mr R.L. Motwani – Advocate for defendant no.1.

¶10

None for other defendants.

¶11

Shri Deepak M. Thakkar Presiding Officer, 19^th January 2023.

¶12

ORDER

¶13

Mr Motwani has enclosed that he does not press for the orders and relief as the 1^st defendant moved Interlocutory Application No.145 of 2022. Therefore, Interlocutory Application No.27 of 2023 stands disposed of as not pressed with no order as to costs.

¶14

Sd/-

¶15

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

¶16

Radhika

¶17

Page 1 of 4

¶18

IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

¶19

(BEFORE HON’BLE PRESIDING OFFICER)

¶20

Sr. No.902

¶21

INTERLOCUTORY APPLICATION No.145 of 2023

¶22

In SECURITISATION APPLICATION NO.369 of 2022

¶23

Mr. Ankit Wadhwa … Applicant

¶24

Versus

¶25

Capri Global Capital Ltd. & Ors. … Defendants

¶26

Mr Rajesh Nagori i/b Ms Sanjana Ghogare – Advocate for the applicant. Mr R.L. Motwani – Advocate for defendant no.1.

¶27

None for other defendants.

¶28

Shri Deepak M. Thakkar Presiding Officer, 19^th January 2023.

¶29

ORDER

¶30

It is the secured creditor’s application, requesting the Tribunal to dispose Securitization Application as the cause of action, based on which the applicant applied to quash and set aside the 13(2) notice and 13(4) measures, does not survive. In paragraph no.3 of the Interlocutory Application, the 1^st defendant states that it intends to withdraw the action and measures but also records that fresh steps under Section 13(2), 13(4) and Section 14 shall be taken. In paragraph no.4, the 1^st defendant once again repeat to dispose of Securitization Application as the cause of action does not survive upon withdrawal

¶31

Page 2 of 4

¶32

of the action and measures under the SARFAESI Act. The 1^st defendant also requests the Tribunal to vacate the interim order passed on 16^th December 2022. Mr Nagori submits that since the 1^st defendant has withdrawn the action and measures under the SARFAESI Act read with the Rules, he concedes that the Securitization Application will not survive.

¶33

By consent, Interlocutory Application No.145 of 2023 is allowed with no order as to costs.

Sd/-

Radhika

Page 3 of 4

IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

¶38

(BEFORE HON’BLE PRESIDING OFFICER)

ORDER SHEET

19.01.2023

Sr. No.902

		SA No.369 of 2022
classifi- cation	No. of Exh.	Mr. Ankit Wadhwa Vs. Capri Global Capital Ltd. & Ors.
		Mr Rajesh Nagori i/b Ms Sanjana Ghogare – Advocate for the applicant. Mr R.L. Motwani – Advocate for defendant no.1. None for other defendants.
	13	1. The learned counsel for defendant has presented I.A. No.145 of 2023 supported by affidavit (exhibit-13), which is taken on record. 2. Orders in I.A. No.145 of 2023 and I.A. No.27 of 2023 passed separately. 3. In view of the order passed in I.A. No.145 of 2023, I.A. No.27 of 2023 and Securitization Application No.369 of 2022 stands disposed of with no orders as to costs.
		Sd/- Presiding Officer, DRT-2, Mumbai

¶43

Radhika

¶44

Page 4 of 4

Mr Ankit Suresh Wadhwa v. Capri Global Capital Limited

Case brief

What is this about?

What did the court decide?

Mr Ankit Suresh Wadhwa v. Capri Global Capital Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Bank of India versus M/s Shree Mahadev Ji Rice Mill Pvt.Ltd and Others

Ms Pradeed Ishwarlal Patel through proprietor Pradeep Ishwarlal Patel versus Canara Bank

Rana Oil Industries versus Union Bank of India

Hdfc Bank versus Harkanwal Singh

Canara Bank versus Naib Singh

Nirmal Gupta versus Bank of Baroda