In SA No.180 of 2024, the applicant submitted an undertaking accepted by the Bank counsel. The Tribunal, noting the amicable settlement and waiver of legal rights, disposed of the Securitisation Application with no order as to costs.
Securitisation Application No.180 of 2024 disposed of with no order as to costs.
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IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI (BEFORE HON’BLE PRESIDING OFFICER) ORDER SHEET
05.06.2024
Sr. No.4
| SA No.180 of 2024 | ||
|---|---|---|
| classifi -cation |
No. of Exh. |
Sufiyabi Abdul Rahman Chogle Vs. HSBC Bank & Anr. |
| Mr Adarsh B. Kanojiya i/b M/s. Nava Legal – Advocates for the applicant. Mr Santosh Bhide – Advocate for defendants. Mr Ahmed A. Rehman Chogule – defendant no.2 present in person. |
||
| 8 9 |
1. The applicant’s counsel has presented undertaking (exhibits-8 and 9), which is taken on record. 2. Mr Bhide, representing the secured creditor, accepts the contents of the undertaking and requests the Tribunal |
|
| to accept it. Accordingly, the Tribunal accepts applicant’s undertaking and shall operate as an order of the Tribunal. The applicant’s counsel is unable to convince the Tribunal as to why the Securitisation Application should be kept pending when the parties amicably settled the matter based on the undertaking and gave up the legal rights. Accordingly, Securitisation Application No.180 of 2024 stands disposed of with no order as to costs. Sd/- Presiding Officer, DRT-2, Mumbai |
Radhika
2 issues framed by the court
Whether the Securitisation Application should be disposed of following an amicable settlement via undertaking.
Whether the applicant's undertaking constitutes a valid basis for dismissing the case with no order as to costs.
Sufiyabi Abdul Rahman Chogle
HSBC Bank & Anr.
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
