Dismissed

Ktk Infotronics Private Limited v. the Cosmos Co-Op Bank Ltd.

DRT17 Apr 2024SA/143/2023

Case brief

AI extract

What is this about?

The Tribunal dismissed the Securitisation Application due to the applicant's failure to deposit the remaining deficit amount as directed. The applicant was given ten days to deposit the outstanding amount and then apply for revival of the proceedings.

What did the court decide?

Securitisation Application No.143/2023 dismissed; applicant directed to deposit amount within 10 days to apply for revival.

Ktk Infotronics Private Limited versus the Cosmos Co-Op… — Insolvency and Bankruptcy | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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	17.04. Sr. No	2024 .57 SA No. 143/2023
Classifi cation	No. of Exh.
		SECURITISATION APPLICATION NO. 143/2023 KTK Infotronics Pvt. Ltd. ..Applicant Versus The Cosmos Co-op. Bank Ltd. ..Defendants Mr. Arun H. Longani – Advocate for applicant Mr. S.R. Vakil - Advocate for the respondent-bank. The matter is taken through Hybrid. 1. In this matter the directions were passed to deposit certain amounts. An extension was sought on the ground that the counsel could not hear the order therefore they could not convey the same. Therefore the Tribunal has modified the orders and on the specific undertaking by the 02^ndApril, 2024 amount will be paid. 2. The counsel for the applicant submits that they will be selling another property and will be getting the money.
		3. Today nothing is being placed on record to make that payment.
		4. There is still deficit of Rs.45 Lacs (Rupees Forty-Five Lacs only) has to be paid. 5. The Tribunal is not interested in continuing with this Securitisation Application for the non-compliance this Securitisation Application shall liable to be dismissed. However, in case the applicant deposits this amount as

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[SBJ] (SA No.143/2023) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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directed he can revive the securitisation application.

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6. In view of the above, I pass the following order. ORDER
A. The Securitisation Application No.143/2023 stands dismissed with the directions that if the applicant complies with this orders and deposit the amount within 10 days he can move appropriate application for revival of the orders.

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B. The amount so deposited till date be adjusted in the book liability. C. Accordingly all the pending Interlocutory Applications stand disposed off. D. File be consigned to the record room. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (SA No.143/2023) Page 2 of 2

Ktk Infotronics Private Limited v. the Cosmos Co-Op Bank Ltd.

Case brief

What is this about?

What did the court decide?

Ktk Infotronics Private Limited v. the Cosmos Co-Op Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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