Allowed

Manish gandharva v. Au Small Finance Bank Limited

DRT15 Apr 2024SA/123/2024

Case brief

AI extract

What is this about?

The Special Appeal under Section 13(2) of the Recovery of Debts and Bankruptcy Act, 1993 was disposed of by consent between parties regarding the outstanding debt amount of Rs. 5,58,582 with installment payment conditions and stay of coercive action.

What did the court decide?

Allowed SA subject to payment of Rs. 5,58,582/- in three installments within three months; stay of coercive action.

DATE

DESCRIPTIONOFTHE ORDER

REMARK

sAl23l24
lst04124

Shri SomitRaizada,Adv^{fortheApplicant}
Shri Adamya Bajpai,^{AdvfortheResponden}
No.l

l.Matteristakenupfor^hearingonIl
No.l699124 applicationfor^condonationo
delay andinterimrelief^{asprayedthroughSl}
againstthe orderdated08/04/22^passedbyth,
DMSehore.

2.Atthe veryoutset^{ApplicantCounse}
submitsthatfor filingthis^{SAsomedelayha}
beencausedand^praysfor^condonationo
delay.
I

3.ApplicantCounselfurther^{submits tht}
withoutgivenanyopportunity^{ofhearingto th}
Applicantsorderhas^beenpassed.

4.ApplicantCounsel^{submitsthatth}
Applicantsarereadyto^deposittoti
outstandingwithinfour^months.

e
a
e
ob
S
e
e
h
h
5. Onbeingaskedaboutto^consentforth
sameRespondentCounsel^ShriAdam!
Bajpai,isagreetodisposal^ofthisSAiftf
Applicantsare readyto^{paytotaloutstandir']}
amount approxRs.^{5,58,582/-withinthr!}
monthssubjecttodepositing^{lastinstallment}I
percloserstatementbeing^givenby^,t]
RespondentNo.l.
6.ApplicantCounsel^{isagreetodepositto!}
outstandingamountRs.^{5,58,582/-*i]}
additionalamount as^{being intimated throu!}
I

DATE

OESCRIPTIONOFTHE ORDER

REMARK

closerstatementwithinthree monthswiththre
installments.

7.Sinceboththecounselsareagree t
disposedofthisSAfinallyasperconsensu
arrivedbetweenthepartiesnowthereisn
needtodecideapplicationforcondonationc
delay onmerit.
8. Aspercontentionsofboththesidei
opinionofthisBenchsincetheApplicantsar
readytodeposittotaloutstandingthenitwoul
be^justandproperto givesomereasonabletim
totheApplicantsso that they mayarrang
moneywhichhastobe deposited.
9.Thereforelookingtoconsensusofbothth
sidethisSAisbeingdisposedofwit
followingconditions:-
(i)The Applicants shalldepositintheirloar
accountRs. 5,58,582/-(RupeesFive Lac,Fift'
EightThousand,Five HundredandEightyTw,
only)withtheRespondentNo.1inthre
installmentswithinthree monthsfromtoda.
outofitRs.2,00,000/-(RupeesTwo Laconly
shallbedepositedwithin 30daysi.e.,til
15105124andsecondinstallmentRs.2,00,000/
(RupeesTwo Lac only)shallbedepositer
within30daysi.e.,till15106124.

(ii)TheApplicantshalldepositthil
installmentRs.1,58,582/- (RupeesOneLac
FiftyEightThousand,FiveHundredanl
EightyTwoonly)within30daysi.e.,til
15107124includingremainingamounta
intimatedbytheRespondentNo.lthrougl
Oi'

DATE

DESCRIPTIONOFTHE ORDER

REMARK

S
foreclosurestatementwithin10workingda
afterdepositing second installmenti
15106124.

v
(iii)TheRespondentNo.lisdirectedtosupp
foreclosurestatementtothe Applicant^with]
10workingdaysfromthedateofdeRositif
secondinstallmenti.e.,I5106124.

d
(iv)Subjecttodepositingtheamount
aforesaid,RespondentNo.1isdirectednot
takecoerciveactionagainsttheapplicants
pursuanttoorderdated08/04/22passedbytl
DM,thatistosayexecutionofthe order^passr
bytheDMSehore,isherebystayedwi
immediateeffectfromtoday.

IS
t
e
d
ILRecordbeconsigned to the record room.
(Ram N
a
(v)Iftheapplicantfailstocomplytl
conditionsmentioned above,theResponde
No.1isfreetotakeactionagainsttl
applicants asper orderdated08104122^pass'
by theDM,District-Sehore.
10.Subjecttoconditionsmentioned above,tt
SAisfinallydisposed of.
sPatel)
PresidingOfficer
DRT:JABALPUR
(M.P.&C.c.)

Manish gandharva v. Au Small Finance Bank Limited

Case brief

What is this about?

What did the court decide?

Manish gandharva v. Au Small Finance Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

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Case details

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