Disposed

Sri R Robert Donison v. Asset Reconstruction Company (India) Limited

DRT13 Apr 2023SA/528/2022

Case brief

AI extract

What is this about?

In this SARFAESI application, the applicant filed challenging a possession notice. Counsel for the applicant submitted that a settlement was arrived between parties and sought withdrawal of the application. The Tribunal disposed of the application as withdrawn, vacating any interim orders and closing pending IAs.

What did the court decide?

Application disposed of as withdrawn; interim orders (if any) vacated; pending IAs closed.

Sri R Robert Donison versus Asset Reconstruction Company… — Banking and Recovery | DRT (2023)

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S.A.528 of 2022 13.04.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 13^th day of April, 2023

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Present: Shri Ganapathi K.R.K. Presiding Officer

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SARFAESI APPLICATION No. 528 of 2022

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Sri R.Robert Donison, S/o.Donison, Managing Director, 29/3 Yeshas Siddhi Siddha Reddy Layout Doddanakundi Cross, Ring Road, Mahadevapura, Marathahalli Post, Bangalore – 560 037. Rep. by Power Agent, P.V.Aravind S/o. Late P.R.Venkatramanaiaha, No.202, 2^nd Floor, SPR Comforts, Nagarabahvi Circle, Bangalore – 560 072. ….Applicant

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Vs.

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Asset Reconstruction Company (India) Limited, 1G, 1^st Floor, Century Plaza, No.560-562, Anna Salai, Teynampet, Chennai – 600 018.

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M/s.Bangalore Management Academy Pvt. Ltd., Private Limited Companay, 29/3 Yeshas Siddhi Sidda Reddy Layout Doddanakundi Cross, Ring Road, Mahadevapura, Marathahalli Post, Bangalore – 560 037.

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Smt. G.Sundara Bai, Director M.s. Bangalore Management Academy (P) Ltd., No.6, Airforce Station Road, Bhagavathi Nagar, East Tambaram, Chennai – 600 059.

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S.A.528 of 2022 13.04.2023

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Mr.Robinson,

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No.6, Airforce Station Road, Bhagavathi Nagar, East Tambaram, Chennai – 600 059. ….Respondents

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Counsels on record / appeared:

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Counsel for Applicant : M/s.T.R.Sundaram. Counsel for Respondent : Mr.R.Balasubramani.

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ORDER

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This SA is filed challenging the Possession Notice dated 07.09.2022 issued by respondent bank for recovery of a sum of Rs.16,41,42,060/-.

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Ld. counsel for applicant submitted that parties have approached respondent bank with OTS proposal and arrived settlement. Hence Ld. counsel submitted that he may be permitted to withdraw the SA, in view of the settlement arrived between parties. Ld. counsel also made an endorsement to that effect in SA paper book.

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In view of settlement arrived between the parties and endorsement made by Ld. counsel for applicant, this SA is disposed as withdrawn. Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.

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With the above directions, this SA stands disposed.

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S.A.528 of 2022 13.04.2023

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A copy of the order be communicated to the parties concerned as per extant guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 13^th day of April, 2023)

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Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

Sri R Robert Donison v. Asset Reconstruction Company (India) Limited

Case brief

What is this about?

What did the court decide?

Sri R Robert Donison v. Asset Reconstruction Company (India) Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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