Disposed

Joshi Freight Carriers v. Jalgaon Janata Sahakari Bank Limited

DRT11 Sept 2023SA/47/2022

Case brief

AI extract

What is this about?

In a securitisation application wherein the respondent bank claimed the matter was infructuous due to inability to sell property but was eligible for a state settlement scheme, the tribunal directed the applicant to approach the bank for settlement and disposed of the application.

What did the court decide?

The Securitisation Application No.47/2022 stands disposed off. The applicant was directed to approach the respondent-bank for settlement based on the State Scheme.

Joshi Freight Carriers versus Jalgaon Janata Sahakari… — Insolvency and Bankruptcy | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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11. Sr.	09.20 No.2	23 4 SA No.47/2022
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.47/2022 Joshi Freight ..Applicant Versus Jalgaon Janata Sahakari Bank Ltd ..Respondent Mr. Rahul Shinde h/for Mr. D.B. Thoke – Advocate for the applicant. Mr. S.R. Vakil – Advocate for the respondent bank. The matter is taken through Video Conference. 1. In this matter the learned counsel appearing on behalf of the respondent bank submits that the SA has already become infructuous as the property could not be sold. He further submits that though the dues are more than Rs.2.5 Crores (Rupees Two Crores Fifty Lacs only) but as per the scheme launched by the State of Maharashtra, he is eligible and Rs.1.70 Crores (Rupees One Crore
		Seventy Lacs only) he can settle his account as per that scheme.
		2. Let the counsel for the respondent convey this to the counsel for the applicant i.e. Mr. D.B. Thoke and he may accordingly instruct his client to approach the respondent-bank for settlement.

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[SBJ]

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( SA No.47/2022) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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In view of the above, I pass the following order through
video conferencing.
ORDER
A. The Securitisation Application No.47/2022 stands
disposed off.
B. File be consigned to the record room.
(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

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[SBJ]

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( SA No.47/2022) Page 2 of 2

Joshi Freight Carriers v. Jalgaon Janata Sahakari Bank Limited

Case brief

What is this about?

What did the court decide?

Joshi Freight Carriers v. Jalgaon Janata Sahakari Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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