The tribunal disposed of the Securitisation Application based on settlement terms where applicants paid Rs. 2.50 crores and withdrew litigation, with the bank closing the loan account and agreeing to handover deeds upon withdrawal.
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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI
(BEFORE HON’BLE PRESIDING OFFICER)
ORDER SHEET
27.04.2023 Sr. No.910
| SA No.371 of 2022 |
||
|---|---|---|
| classifi- cation |
No. of Exh. |
M/s. Boisi & Ors. Vs Bharat Co-op Bank (M) Ltd. & Ors. |
| Mr Harjot Singh Alang i/b M/s. Raval Shah & Co. – Advocates for the applicants. Mr Bharat Mehta – applicant no.2 in person. Mrs Poonam Mehta – applicant no.3 in person. Ms Sanjana Ghogare – Advocate for defendants. Dr Jyoti S. – officer of defendant no.1 bank. |
||
| 15 | 1. The parties have presented consent terms (exhibit- 15), which is taken on record. By the consent terms, the applicants have made the payment in the sum of Rs.2.50 crores which the 1stdefendant acknowledges. The 1stdefendant by its letter dated 26thApril 2023 informed the applicant of receiving the payment of Rs.2.50 crores. The 1stdefendant has closed the loan account of the applicants. The learned counsel for the parties therefore, requested the Tribunal to dispose the Securitisation Application in terms of the consent terms. |
|
| 2. Ms Alang requests the Tribunal to direct the 1st defendant to handover the original title deeds. Ms Ghogare submit that under the consent terms, it is the applicants’ obligation to withdraw all the pending litigations against it and upon withdrawal, the original documents will be handed within one week. The |
Page 1 of 2
statement made by the learned counsel for the parties
is accepted.
3. In view of the consent terms, Securitisation
Application No.371 of 2022 stands disposed of with
no order as to costs.
Sd/-
Presiding Officer,
DRT-2, Mumbai
Nidhi
Page 2 of 2
M/s. Boisi & Ors.
Bharat Co-op Bank (M) Ltd.
Nidhi
As recorded by the court registry
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