Disposed

M/s. Design Deal v. Bank of Baroda (Vijaya Bank)

DRT9 May 2024MA/48/2022

Case brief

AI extract

What is this about?

DRT-II, Mumbai disposed of Misc. Application No.48 of 2022 where respondent bank deposited the claimed amount with interest. The Tribunal allowed stay of release until June 27, 2024, with liberty to release funds to applicants if the bank failed to secure a stay order from higher authorities.

What did the court decide?

Stay of release of deposited amount till June 27, 2024, with liberty to release funds if respondent fails to procure higher forum order.

M/s. Design Deal versus Bank of Baroda (Vijaya Bank) — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

Sr. No.14

ORDER

MISCELLANEOUS APPLICATION NO.48 of 2022

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M/s. Design Deal & Ors. … Applicants

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Versus

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Bank of Baroda (Vijaya Bank) … Respondent

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Ms Pooja Joshi – applicant no.2 present in person.

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Mr Sidharth Samantaray, Mr A.R. Bamne and Mr Nilesh Bamne i/b M/s. A.R. Bamne & Co. – Advocates for respondent.

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Shri Deepak M. Thakkar Presiding Officer,^th May 2024.

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ORDER

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Mr Samantaray has handed over the demand draft bearing no.974375 dated 8^th May 2024 for Rs.1,00,943/- drawn in the name of the Registrar, DRT-II, Mumbai in compliance of the undertaking. Upon deposit of the amount of Rs.1,00,943/- by Bank of Baroda, the Tribunal’s order stands complied. The learned Registrar is directed to release the amount to the applicant with accrued interest. Mr Samantaray requests the Tribunal to stay the order till 27^th June 2024. Request accepted. In case the respondent bank fails to procure order from the higher forum, the learned Registrar will be at liberty to release the amount of Rs.1,00,943/to the applicants.

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Page 1 of 3

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Miscellaneous Application No.48 of 2022 stands disposed of with no order as to costs.

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Sd/-

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(Deepak M. Thakkar) Presiding Officer, DRT-2, Mumbai

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Nidhi

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Page 2 of 3

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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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(BEFORE HON’BLE PRESIDING OFFICER)

ORDER SHEET

09.05.2024

Sr. No.14

				MA No.48 of 2022
classifi	-cation	No. of Exh.		M/s. Design Deal & Ors. Vs. Bank of Baroda (Vijaya Bank)
			Ms Pooja Jos	hi – applicant no.2 present in person.
			Mr Sidharth	Samantaray, Mr A.R. Bamne and Mr Nilesh
			Bamne i/b respondent.	M/s. A.R. Bamne & Co. – Advocates for
			1. Order	in Miscellaneous Application No.48 of 2022
			passed	separately.
				Sd/- Presiding Officer, DRT-2, Mumbai

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Nidhi

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Page 3 of 3

M/s. Design Deal v. Bank of Baroda (Vijaya Bank)

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M/s. Design Deal v. Bank of Baroda (Vijaya Bank)

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