The Debts Recovery Tribunal dismissed the securitisation application for non-compliance with the requirement to deposit Rs.5 lac and submit an OTS proposal as directed in a previous order.
The Securitisation Application No.162/2023 is dismissed for non-compliance of orders.
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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, AURANGABAD) ORDER SHEET
| 21.03. Sr. No |
2024 .20 S.A.No.162/2023 |
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| Classific ation |
No. of Exh. |
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| SECURITISATION APPLICATION No.162/2023 Sunil Jagannath Dusing .. Applicant Versus Bajaj Finance Ltd& others .. Respondent Mr. Rathod Ganesh A - Advocate for the applicant. Mr. Vakil Satyajit R. – Advocate for respondents 1. The learned counsel for the applicant submits that the negotiations are going on between the parties and the applicant is ready and willing to settle the account with the bank. However, in the order dated 29.01.2024 Ld. Registrar records that the OTS has been sent to the bank vide email dated 25.01.2024. 2. The learned counsel for the respondent bank submits that the applicant has not submitted proposal for OTS. The learned counsel for the respondent further submits that the applicant was directed to deposit an amount of Rs.5 lac with the respondent and same has not been done. 3. In view of the above, I pass the following order : ORDER A. The Securitisation Application No.162/2023 stands dismissed for non compliance of orders. B. All pending IA in the proceeding, if any are disposed of accordingly. C. The parties are at liberty to settle the matter if they desire so. D. Consign the file to the Record Room and orders be uploaded on official web-site. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[APK]
1 issue framed by the court
Whether the applicant's application can be maintained in the absence of compliance with the prior order to deposit an amount and submit a proposal.
Sunil Jagannath Dusing
Bajaj Finance Ltd & others
Vimal Gupta
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
