Disposed

Balaji Plastics v. Svc Co. Operative Bank Limited

DRT14 Jul 2023SA/414/2022

Case brief

AI extract

What is this about?

The DT considered a securitisation application under Section 17 SRA. The applicant consented to pay specific amounts to settle dues. The tribunal disposed of the application and directed the applicant to pay Rs.3,00,000 immediately, Rs.7,00,000 by September 27, 2023, and Rs.10,41,000 by December 27, 2023, to obtain a No Dues certificate.

What did the court decide?

Disposal of Application No.414/2022 with direction to pay Rs.3,00,000 immediately, Rs.7,00,000 by 27.09.2023, and Rs.10,41,000 by 27.12.2023 to get No Dues.

14.
Sr.

07.20
No.8

23
6 SANo.414/2022

Classific
ation

No. of
Exh.

SECURITISATION APPLICATION No. 414/2022
Balaji Plastics
..Applicant
Versus
SVC Co-operative Bank Ltd.
..Respondent

Mr. S.S. Jawale – Advocate for the applicant.
Mr. M.M. Dabholkar – Advocate for the respondent bank
The matter is taken through Video Conference.

1. The learned counsel for the applicant filed this
Securitisation Application under Section 17 of the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest, 2002 against the
measures taken by the respondent under section 13(4) of
the SARFAESI Act.

2. With the consent of both the parties, the counsel for the
applicant submits that they are ready to pay Rs.3,00,000/-

(Rupees Three Lacs only) today itself and another
Rs.7,00,000/- (Rupees Seven Lacs only) to be paid on
27^thSeptember, 2023 and Rs.10,41,000/- will be paid till
27^thDecember, 2023.

3. In view of the above statements made by the counsel for
the applicant and consented by the counsel for the
respondent-bank, I pass the following orders through

video conferencing. ORDER A. Securitisation Application No.414/2022 stands disposed off.
B. The applicant is hereby directed to pay Rs.3,00,000/-
(Rupees Three Lacs only) today itself and another
Rs.7,00,000/- (Rupees Seven Lacs only) to be paid on
27^thSeptember, 2023 and Rs.10,41,000/- will be paid till
27^thDecember, 2023 to the respondent-bank. The
respondent-bank to issue No Dues and release securities after payment.
C. File be consigned to the record room.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

video conferencing.
ORDER
A. Securitisation Application No.414/2022 stands disposed
off.

B. The applicant is hereby directed to pay Rs.3,00,000/-

(Rupees Three Lacs only) today itself and another

Rs.7,00,000/- (Rupees Seven Lacs only) to be paid on

27^thSeptember, 2023 and Rs.10,41,000/- will be paid till

27^thDecember, 2023 to the respondent-bank. The

respondent-bank to issue No Dues and release securities
after payment.

C. File be consigned to the record room.

(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

Balaji Plastics v. Svc Co. Operative Bank Limited

Case brief

What is this about?

What did the court decide?

Balaji Plastics v. Svc Co. Operative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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