Disposed

Sushreya Sonography Centre v. Aditya Birla Finance Limited

DRT21 Mar 2024SA/110/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of a stay application in a securitisation proceeding. The court directed the applicant to deposit Rs. 5 lac and provide two post-dated cheques of Rs. 5 lac each, along with an undertaking to regularize the account and from then onwards pay regular EMIs, against which possession would be deferred.

What did the court decide?

Applicant directed to deposit Rs. 5 lac and provide two post-dated cheques of Rs. 5 lac each with an undertaking to regularize the account and pay EMIs from April; Respondent directed to defer possess

Sushreya Sonography Centre versus Aditya Birla Finance Limited — Company and Corporate | DRT (2024)

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

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21.03.2024

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	Sr. No	.1 supp S.A.No.110/2024
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.110/2024 Sushreya Sonography Centre .. Applicant Versus Aditya Birla Finance Ltd.& others .. Respondent Mr.S.B.Jore- Advocate for the applicant. Mr.S.R.Vakil h/f Mr. P.N.Kapadiya – Advocate for respondents 1. The learned counsel for the applicant submits that approximately an amount of Rs. 13.91 is overdue. The Authorised Officer of the respondent company who is present in the morning has indicated a figure of Rs. 14,06,300/- as an overdue. 2. The respondent company is ready and willing to defer the possession if the applicant deposits the said overdue amount of Rs.14 lac and regularize the account with an undertaking that there will no defaults in depositing the money. 3. The learned counsel for the applicant on instruction submits that the applicant is ready and willing to deposit an amount of Rs. 5 lac before possession along with one cheque of Rs. 5 lac dated 5^th April, 2024 and another cheque of Rs. 5 lac dated 25^thApril, 2024 along with undertaking they will regularize the account and will the regular EMI from April onward. 4. Looking into the entire circumstances as stated above, I pass the following order: ORDER A. The interlocutory application for stay stands disposed of and accordingly the Securitisation Application No. 110/2024 is disposed of. B. The applicant is directed to deposit an amount of Rs. 5 lac before

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[APK] (SA No.110/2024) 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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possession and also handover one cheque of Rs. 5 lac dated 5^th April, 2024 and another cheque of Rs. 5 lac dated 25^th April, 2024 along with undertaking they will regularize the account and will the regular EMI from April onward.

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C. It is made clear that if the applicant make payment of Rs. 5 lac before possession and also handover one cheque of Rs. 5 lac dated 5^th April, 2024 and another cheque of Rs. 5 lac dated 25^th April, 2024 along with undertaking, the respondent company is directed to defer the possession and if the applicant has not complied with the orders or any of the cheque dishonours, the respondent company is at liberty to proceed under securitisation.

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

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E. Consign the file to the Record Room and orders be uploaded on official web-site.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[APK] (SA No.110/2024) Page 2 of 2

Sushreya Sonography Centre v. Aditya Birla Finance Limited

Case brief

What is this about?

What did the court decide?

Sushreya Sonography Centre v. Aditya Birla Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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