Partly allowed

Nayan Motors v. Dwarkadas Manrti Nagari Sahakari Bank Ltd.

DRT19 Mar 2024SA/105/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of the securitisation application as infructuous because possession was not taken. On representation by the applicant's counsel that they were ready to pay dues, the Tribunal directed payment of entire dues and post-dated cheques by 30.06.2024 to avoid proceeding further.

What did the court decide?

Application disposed as infructuous. Applicant directed to pay entire dues and post-date cheques by 30.06.2024. Bank not to proceed if cheques delivered.

Nayan Motors versus Dwarkadas Manrti Nagari Sahakari Bank Ltd. — Banking and Recovery | DRT (2024)

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

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1 S	9.03.2 r. No.	024 2 supp S.A.No.105/2024
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.105/2024
		Nayan Motors .. Applicant Versus Dwarkadas Mantri Nagari Sahakari Bank Ltd. & others .. Respondent
		Mr. A. N. Barhate - Advocate for the applicant. None for respondents 1. In this matter, the learned counsel for the applicant submits that the possession has to be taken yesterday but it has not taken. 2. There appears to be a checker history of litigations amongst the parties. The OTS have been sanctioned but no payments have been made. 3. In this matter the applicant has challenged the possession only which is not taken as such s.a. become infructuous. 4. In view of the above, I pass the following order : ORDER A. The Securitisation Application No.105/2024 stands disposed of as infructuous. B. All pending IA in the proceeding, if any are disposed of accordingly. C. Consign the file to the Record Room and orders be uploaded on official web-site.

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[APK] (SA No.105/2024) Page 1 of 2

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

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D. At this stage the learned counsel for the applicant submits that they are ready to pay the entire dues.

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E. Let the applicant pay the entire dues with the bank by 30.06.2024. the applicant is directed to pay the post-dated cheques of entire due amount within two days.

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F. If the applicant handover postdated cheques of entire due amount with the bank within two days. The bank may not proceed ahead with the proceeding.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[APK] (SA No.105/2024) Page 2 of 2

Nayan Motors v. Dwarkadas Manrti Nagari Sahakari Bank Ltd.

Case brief

What is this about?

What did the court decide?

Nayan Motors v. Dwarkadas Manrti Nagari Sahakari Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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