Disposed

Ulhas Shivajirao Gapat v. Osmanabad Janata Sahakari Bank Ltd.

DRT12 Jun 2024MA/4/2024

Case brief

AI extract

What is this about?

In this miscellaneous application, the DRT addressed a dispute over unpaid interest on a secured account. The tribunal directed the applicant to pay Rs.1,00,000 to the bank, after which the bank must release the charge and property documents, and the application is disposed of.

What did the court decide?

Applicant to pay Rs.1,00,000 to the bank; upon payment, bank to release charge, documents and close account.

Ulhas Shivajirao Gapat versus Osmanabad Janata Sahakari… — Execution and Attachment | DRT (2024)

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

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ORDER SHEET

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1 S	2.06.20 r. No.1	24 8 MA No.04/2024
Classifi cation	No. of Exh.
		MISCELLANEOUS APPLICATION No.04/2024
		Ulhas Shivajirao Gapat ..Applicant Versus Osmanabad Janata Sahakari Bank Ltd. ..Respondent/s Mr. A.A. Yadkikar - Advocate for the applicant. Mr. S.B. Choudhari – Advocate for the Respondent-bank. The matter is taken through Hybrid. 1. In this matter the learned counsel appearing for the applicant submits that they have paid the entire amount to the respondent bank as per the orders. However, the counsel for the respondent bank submits that the interest portion of Rs.1,95,000/- (Rupees One Lac Ninety-Five Thousand only) is due and payable. 2. For this meagre amount the property is held up in the hands of the respondent bank. The Tribunal proposed the payment
		of Rs.1,00,000/- (Rupees One Lac only) to be paid by the applicant to the respondent-bank. 3. The learned counsel appearing for the respondent bank submits that the Authorised Officer is unable to give consent however the Court may pass appropriate orders. 4. Accordingly, the applicant shall pay Rs.1,00,000/- (Rupees One Lac only) to the respondent-bank and upon the payment

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[SBJ]

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(MA No. 04/2024) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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the respondent bank shall release the charge and the property
documents to the applicant herein and close the account. In
view of this, this MA No.04/2024 in the Securitisation
Application No.317/2022 shall be disposed off.
5. In view of the above, I pass the following order:
ORDER
A. Miscellaneous Application No. 04/2024 in the
Securitisation Application No.317/2022 stands disposed
off.
B. The applicant shall pay Rs.1,00,000/- (Rupees One Lac
only) to the respondent-bank and upon the payment the
respondent bank shall release the charge and the property
documents to the applicant herein and close the account.
C. Consign the file to the Record Room.
(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

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[SBJ] (MA No. 04/2024) Page 2 of 2

Ulhas Shivajirao Gapat v. Osmanabad Janata Sahakari Bank Ltd.

Case brief

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Ulhas Shivajirao Gapat v. Osmanabad Janata Sahakari Bank Ltd.

Case brief

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