Debts Recovery Tribunal-I, Hyderabad granted an interim stay on physical possession of schedule properties under Crl.M.P.No.11/2024, conditioned on depositing Rs.3 Lakhs in installments by the applicant.
Stay of all further proceedings and physical possession of schedule properties, subject to depositing Rs.3 Lakhs in two installments.
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THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THISTHE 22ND DAY OF, MARCH ,2024 PRESENT: SRI. GUMMADI GOPICHAND HON'BLE PRESIDING OFFICER
rA. NO. 771 OF 2024 IN s.A. NO. !L6 0F 2024
Between
Smt, Meera Thakur, H.No.2-2-47 6, Ram Nagar, Opp. Shivasubramanyam HosPital, Beside Venkateswara Swamy TemPle, Hanam konda-506001. And another.
....Applicant/s
And
Central Bank of India, Nakkalagutta Branch, D. No. 1-8-402, Balasamudra Road, Nakkalagutta, Ha namkonda-506001.
...Respondent/s
DOCKET ORDER DT. 22.O3.2024.
The Petitioners tiled I.A.77l/24seeking stay of all further proceedings including takingphysicalpossessionof the schedule propertiesthrough Advocate commissioner videNotice dt.07.03.2024 pursuantto the ordersin Crl.M.P.No.11/2024 on thefile of ClM, Hanumakonda.
It is submitted by the Ld. counselfor the Petitioners that Applicants No1 & 2 are wife and husband andthey availed housing loan from the Respondent Bank. Due to covid, thePetitionerscould not pay instalments and without physical possession of the any prior notice, Bank Proceeded of law. With these schedule property withoutfol submissions, Ld. counselso
Heard Ld. counsel for the petiuoners and perused the material brought on record. sri A'V.S. Prasad, advocate fired vakalat for Respondent banI and requested time to file counter while vehemently opposing for grant of stay.
The issues raised by thepetitioners would be decided upon filing counter and material documents by the Respondent Bank. However, in thi mean time, r am of the opinion that there shall be interim stay of ail further proceedings including taking physical possession oi the schedule properties through Advocate commissioner vide Notice dt'o7.o3.2o24 pursuant to the orders in crl.M.p.No.LL/2024 on ttt. file of CJM, Hanumakonda, subjelf to deposit of Rs.3 takhs by the Petitioner in two instalments - lst instalment of Rs.1.5 lakhs on or before 05.04.2024 and 2nd instalment of Rs.l.s lakhs on or before 2o.o.4,2o24 directly into the roan account with the ResponJent Bank. If the Petitioners fails to comply with any of the above conditions, the interim stay shall stands vacated and the Respondent Bank shall be at liberty to proceed further in accordance with law.
Post the matter on 24.o4.2024 before Registrar for report of compliance and also for filing counter/reply by the Respondent Bank.
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Presiding Officer
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1 issue framed by the court
Whether an interim stay should be granted on further proceedings including physical possession of schedule properties.
Meera Thakur
Central Bank of India
Gummi Dwij Chridhar
Reddi M.R.
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
