Application filed by Kiran Bhausaheb Solas for securitisation was dismissed by the Debt Recovery Tribunal, Aurangabad, holding the application non-maintainable as the applicant is not a lessee of the property in question.
The Securitisation Application No.37/2023 dismissed; all 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
| 20.10. Sr. No |
2023 .64 SA No.37/2023 |
|
|---|---|---|
| Classific ation |
No. of Exh. |
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| SECURITISATION APPLICATION NO.37/2023 | ||
| Kiran Bhausaheb Solas ..Applicants Versus Phoenix ARC Pvt. Ltd. & 15 others ..Respondents Mr. K.B. Deshpande – Advocate for the applicant Mr. G.V. Kulkarni h/for Mr. S.V. Natu– Advocate for the respondent no.1 & 2. None for the respondent nos.3-6, 8, 9, 12, 14-16. None for other respondents. The matter is taken up through VC. 1. In this matter the learned counsel for the applicant submits that during the pendency of this Securitisation Application they have got the lease deed registered. He should be aware of the provisions of the Securitisation Act. 2. Upon issuance of notice under Section 13(2) and 13(4) of the SARFAESI Act when the steps are taken by the respondent bank no further steps regarding that property |
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| can be taken. The said lease deed even after registered is a void document having done pursuant to Securtisation action. The lease deed which is filed on record is on Rs.20/- (Rupees Twenty only) stamp paper filed at Page No.28 onwards stated to be made on 11thMay, 2007 for 28 years. No stamp duty has been paid for the same. 3. In these circumstances it is held that the applicant is not the lessee / tenant of this property and as such this |
[SBJ] (SA No.37/2023) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
Securitisation Application shall be dismissed.
ORDER
A. The Securitisation Application No.37/2023 stands
dismissed.
B. Accordingly all the interlocutory applications pending
stands disposed off.
C. File be consigned to the record room.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad
[SBJ] (SA No.37/2023) Page 2 of 2
Kiran Bhausaheb Solas
Phoenix ARC Pvt. Ltd.
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
