Disposed

Sumanbai Wo Sukhdev Sable v. Bank of Maharashtra

DRT19 Apr 2024SA/134/2024

Case brief

AI extract

What is this about?

The Securitisation Application challenging a sale notice was disposed of after the bank withdrew the notice. The Tribunal directed the applicant to deposit Rs.5 Lacs for one-time settlement consideration and adjust the amount towards book liability if the proposal is rejected.

What did the court decide?

Application disposed. Applicant directed to deposit Rs.5 Lacs for one-time settlement consideration; amount to be adjusted towards book liability if proposal rejected.

19.04.
Sr. No

2024
.17
SA No. 134/2024

Classifi
cation

No. of
Exh.

SECURITISATION APPLICATION NO. 134/2024

Sumanbai w/o Sukhdev Sable
..Applicant
Versus
Bank of Maharashtra
..Respondent
Mr. Vinay Anjanwatikar – Advocate for the applicant.
Mr. A.A. Mishra - Advocate for the respondent bank.

The matter is taken through Hybrid.
1. In this matter the sale notice has been challenged.
2. The learned counsel appearing for the bank submits that they
have withdrawn the sale notice. Accordingly this
Securitisation
Application
has
become
infructuous.
Accordingly, this Securitisation Application be disposed off.
3. In this matter the applicant further submits that he has
challenged the action of the respondent bank under
securitisation however there is nothing in his Securitisation
Application challenging the said action. He has only
challenged the sale notice and further action of the
respondent bank. The respondent bank has already
withdrawn the sale notice.
4. The counsel for the applicant further submits that they want
to settle the account at Rs.12,87,551/- (Rupees Twelve Lacs
Eighty-Seven Thousand Five Hundred Fifty-One only)
which according to him is a figure reflected in 18^th
November, 2023 in the statement of account. He fails to
notice that there is a reversal of interest of Rs.7,34,000/-
(Rupees Seven Lacs Thirty-Four Thousand only) and
another more than Rs.1,10,000/- (Rupees One Lac Ten

Thousand only). Further there will be an interest from November 2023 to date of the payment.
5. Let the applicant deposit Rs.5 Lacs (Rupees Five Lacs only). The respondent bank may consider his proposal if it is in their policy.
6. If the one time settlement proposal is not accepted this Rs.5 Lacs (Rupees Five Lacs only) will be adjusted towards the book liability.
7. In view of the above, I pass the following order. ORDER
A. The Securitisation Application No.134/2024 stands disposed off.
B. Let the applicant deposit Rs.5 Lacs (Rupees Five Lacs only). The respondent bank may consider his proposal if it is in their policy.
C. If the one time settlement proposal is not accepted this Rs.5 Lacs (Rupees Five Lacs only) will be adjusted towards the book liability.
D. Accordingly, all the pending Interlocutory Applications stand disposed off.
E. File be consigned to the record room and the orders will be uploaded from the official website. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

Thousand only). Further there will be an interest from
November 2023 to date of the payment.

5. Let the applicant deposit Rs.5 Lacs (Rupees Five Lacs only).
The respondent bank may consider his proposal if it is in
their policy.

6. If the one time settlement proposal is not accepted this
Rs.5 Lacs (Rupees Five Lacs only) will be adjusted towards
the book liability.

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

A. The Securitisation Application No.134/2024 stands disposed
off.

B. Let the applicant deposit Rs.5 Lacs (Rupees Five Lacs only).
The respondent bank may consider his proposal if it is in
their policy.

C. If the one time settlement proposal is not accepted this
Rs.5 Lacs (Rupees Five Lacs only) will be adjusted towards
the book liability.

D. Accordingly, all the pending Interlocutory Applications
stand disposed off.

E. File be consigned to the record room and the orders will be
uploaded from the official website.
(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

Sumanbai Wo Sukhdev Sable v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

Sumanbai Wo Sukhdev Sable v. Bank of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

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