Disposed

Grushneshwar Mild and Milk Products Prop Sachin Gaikwad v. Nagar Urban Cooperative Bank Ltd.

DRT21 Nov 2023SA/74/2022

Case brief

AI extract

What is this about?

The DRT disposed of the plaintiff's securitisation application because the respondent bank's license was cancelled, though it was granted liberty to revive the matter if the bank gets liquidated or the licensing issue is resolved.

What did the court decide?

Securitisation Application disposed; applicant liberty to revive if liquidator appointed or settlement reached.

Grushneshwar Mild and Milk Products Prop Sachin Gaikwad… — Company and Corporate | DRT (2023)

¶1

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

¶2

ORDER SHEET

¶3

2 S	1.11.2 r. No.	023 63 SA No.74/2022
Classifi cation	No. of Exh.
		SECURITIZATION APPLICATION No.74/2022 Grushneshwar Mild and Products and others ..Applicant Versus Nagar Urban co-op. Bank Ltd. ..Respondents Mr. V.S.Tokekar - Advocate for the applicant. Mr. S.R. Deshpande - Advocate for the respondent no.2. None for the respondent no.1. The matter is taken through Hybrid. 1. The Learned counsel for the respondent bank submits that the license of the respondent bank has been cancelled. In view of this it seems that at present the bank is not proceeding ahead under securitisation. 2. In view of the above statement made by the counsel for the applicant-bank, I pass the following order through video conferencing. ORDER A. The Securitisation Application No.74/2022 is disposed of. B. The applicant is at liberty to revive the same if the liquidator appointed and continue with the proceeding. In the mean time they can also approach the bank for a settlement in the matter. C. All pending IA in the proceeding, if any are disposed of accordingly D. Consign the file to the Record Room and orders be uploaded on official web-site.
		(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

¶4

[APK]

Grushneshwar Mild and Milk Products Prop Sachin Gaikwad v. Nagar Urban Cooperative Bank Ltd.

Case brief

What is this about?

What did the court decide?

Grushneshwar Mild and Milk Products Prop Sachin Gaikwad v. Nagar Urban Cooperative Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases

Bank of Baroda versus Mr Ajaykumar Chandraprakash Baheti

Canara Bank versus M/S Sangeeta Industries

Monalisa Gift Cosmetics Imitation Shopee versus Edelweiss Asset Reconstruction Co. Ltd.

Surya Nashik Agro Industries versus Edelweiss Asset Reconstruction Company Limited

Abhijit Suresh Meghe versus Shubham Housing Development Finance Company Limited

Sau Meera Shankar Bhosale versus State Bank of India