Partly allowed

Mr. Jagadeesh Parmeshwar Naik alias Jagdish Parmeshwar Naik v. Citizen Credit Cooperative Bank Limited

DRT24 Jan 2024SA/18/2024

Case brief

AI extract

What is this about?

The Deputy Registrar of the Supreme Court granted conditional stay against physical possession of a mortgaged property, directing the applicant to pay a portion of the dues and submit a settlement proposal within specified timelines while lodging the balance due. Default would lead to immediate repossession.

What did the court decide?

Stay of possession conditional on payment of ₹8 Lakhs within 24 hours, ₹7 Lakhs within 15 days, and submission of a settlement proposal within 7 days. Possession deferred to 15/03/2024 subject to comp

Mr. Jagadeesh Parmeshwar Naik alias Jagdish Parmeshwar… — Execution and Attachment | DRT (2024)

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I.A. No. 168/2024 In SA 18 of 2024

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24/01/2024	Ex. No.	Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. *Order in I.A. No. 168/2024* *in SA 18 of 2024* *Mr. Jagadeesh Parmeshwar Naik Alias* *Jagdish Parmeshwar Naik Vs Citizen* *Credit Cooperative Bank Limited*	Next date
		Advocate G. Raikar i/b Mearki Chambers appeared for the Applicant. Advocate Madhur Rai a/w Adv. Sneha N. i/b PRS Legal appeared for the Respondent.
		I.A. No. 168/2024. 1. By way of the present I.A. the Applicant is praying to restrain the Respondent No.1 & 2 from taking further steps and taking physical possession of the property being Plot No. C, admeasuring an area of 294 sq.mtrs of the property DOTORBHAT surveyed under Survey NO. 104/2 of Ella Village situated at Mallar, Corlim, Ella Village of Tiswadi Taluka within the Jurisdiction of Village Panchayat of Old Goa, Sub District Ilhas, North Goa District, State of Goa which property is not described in the Land Revenue Office
		under Matriz number but only surveyed

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¶4

I.A. No. 168/2024 In SA 18 of 2024

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under Survey no.104/2 of Ella Village of
Tiswadi Taluka, including a residential
house bearing No. 224/4 standing in the
said plot (hereinafter referred as
“property in question”).
2. Ld. Counsel for the Applicant has argued
on the merit of the case. However, he
submits that the Applicant is ready to
deposit some amount immediately and thus seeking protection from the
possession. 3. Heard Ld. Counsel for the Respondent.
4. Looking to the fact mentioned in the I.A. that the amount due in the present matter is around Rs. 49 Lakh and the Applicant
herein is residing in the property in
question being single dwelling unit with
his other family members, therefore, in
the interest of justice, the Applicant is
hereby directed to pay Rs. 8 Lakh today or
tomorrow before 12 am and further
amount of Rs. 7 Lakh within 15 days from today.

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¶7

I.A. No. 168/2024 In SA 18 of 2024

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The Applicant shall also give proposal of settlement within 7 days and for the said purpose the Applicant shall visit the Respondent Bank office within 7 days from today. The officer of the bank shall explore the possibility of settlement in the impugned account. 6. In case the Applicant comply the direction as stated herein above, the Respondent Bank deferred the possession till 15/03/2024.

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Needless to say, in case of default, the Respondent may take the possession without any notice to the Applicant and the Applicant shall surrender the peaceful possession of the property in question.

¶10

With above direction the present I.A. is disposed off. P.O.

¶11

DRT-I

¶12

Mr. Jagadeesh Parmeshwar Naik alias Jagdish Parmeshwar Naik v. Citizen Credit Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

Mr. Jagadeesh Parmeshwar Naik alias Jagdish Parmeshwar Naik v. Citizen Credit Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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