This order grants permission to withdraw the Securitization Application after the secured creditor withdrew its SARFAESI action notices. It dismisses the application and disposes of pending interim applications with no order as to costs.
Petitioner's Securitization Application dismissed as withdrawn. All pending interim 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 No.2, MUMBAI
(BEFORE HON’BLE PRESIDING OFFICER)
ORDER SHEET
08.03.2023
Sr. No.905
| classifi- cation |
No. of Exh. |
SA No.38 of 2023 M/s. Gaylord Commercial Co. Ltd. Vs. Union Bank of India & Ors. |
|---|---|---|
| Mr Rajesh Nagori i/b Mr Anukul B. Sheth – Advocate for the applicant. Mr Jitendra Bakliwal i/b M/s. Legal Prism – Advocates for defendant no.1. None for other defendants. |
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| 10 | 1. The learned counsel for the parties have filed joint pursis (exhibit-10) placing on record that the secured creditor withdrew the SARFAESI action vide letter dated 6thMarch 2023 addressed by the authorized officer to the borrowers. The letter reveals that the secured creditor withdrew the demand notice dated 29thNovember 2019, possession notice dated 17thFebruary 2022 and |
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| sale notice dated 20thFebruary 2023. Based on the aforesaid fact, the parties counsel requests |
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| the Tribunal to dispose of the Securitization Application. |
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| 2. Mr Nagori orally submits to permit the |
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| applicant’s Securitization Application to be withdrawn. Permission granted. |
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| 3. In view of the submissions made by the learned | ||
| counsel for the parties, Securitization |
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| Application No.38 of 2023 stands dismissed as |
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withdrawn with no order as to costs.
4. All pending I.As stands disposed off with no
order as to costs.
Sd/-
Presiding Officer,
DRT-2, Mumbai
Nidhi
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M/s. Gaylord Commercial Co. Ltd.
Union Bank of India & Ors.
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
