Disposed

Deepak Ashok Dalavi v. Encore Asset Reconstruction Company Pvt. Ltd.

DRT21 Mar 2024SA/108/2024

Case brief

AI extract

What is this about?

Hearing was limited to the challenge against the e-auction process. On behalf of the respondent, it was submitted that due to lack of bids, the auction failed, rendering the application infructuous. The Tribunal held that no other substantive issues require adjudication and disposed of the Securitisation Application.

What did the court decide?

Securitisation Application No.108/2024 disposed of as infructuous.

Deepak Ashok Dalavi versus Encore Asset Reconstruction… — Insolvency and Bankruptcy | DRT (2024)

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

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2 S	1.03.2 r. No.	024 4 S.A.No.108/2024
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.108/2024
		Deepak Ashok Dalavi .. Applicant Versus Encore Asset Reconstruction Company Pvt. Ltd. & others .. Respondent
		Mr. Jadhav Ambadas Sopanrao - Advocate for the applicant. Mr. V.R.Patil – Advocate for respondents
		1. The learned counsel for the applicant submits that he is challenging the e-auction sale on various grounds including the publication is not done in a proper newspaper having vide circulation.
		2. The learned counsel for the applicant further submits that no 13(2) notice or 13(4) notice was issued by the respondent Encore Asset Reconstruction Company Pvt. Ltd. 3. The learned counsel for the applicant further submits that the deposits in the accounts are not made by him.
		4. The learned counsel for the applicant is mixing two proceedings in each other one is Original Application no. 112/2021 filed by the Encore for recovery against the present applicant and another Securitisation Application. Today the Original Application is now not before the Tribunal. 5. So far as the Securitisation Application is concerned, except the challenge to the sale nothing is within limitation,

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[APK] (SA No.108/2024) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, AURANGABAD)

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ORDER SHEET

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therefore, the Tribunal deals with the question of e-auction process only.

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1. The learned counsel for the respondent EARC submits the for want of bid auction has failed and request to dispose of the Securitisation Application as it become infructuous.

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1. In view of the above, I pass the following order : ORDER

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A. The Securitisation Application No108/2024 is disposed of as infructuous.

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B. All pending IA in the proceeding, if any are disposed of accordingly.

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C. Consign the file to the Record Room and orders be uploaded on official web-site. (Vimal Gupta)

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Presiding Officer

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Debts Recovery Tribunal, Aurangabad

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[APK] (SA No.108/2024) Page 2 of 2

Deepak Ashok Dalavi v. Encore Asset Reconstruction Company Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Deepak Ashok Dalavi v. Encore Asset Reconstruction Company Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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