DRT Delhi quashed impugned order dated 22.03.24 and restored demand for deposit of Rs. 10.50 lakhs within two months and additional Rs. 30.00 lakhs within one month.
Applicant directed to deposit Rs. 10.50 lakhs within two months and additional Rs. 30.00 lakhs within one month. Original application form restored.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL:ODISHA:CUTTACK ORDER SHEET
| SA No.-186/2023 | |||
|---|---|---|---|
| Sl. No |
Date of order. |
Order with the signature. | Action (if any) taken on the order. |
| 22.03.24 | Learned Counselfor the applicant present. Learned Counsel for the Respondent bank present. Learned Counsel for the applicant submits that he has already deposited Rs.25.00 lakhs as per the direction of this Tribunal. The Respondent Bank again going to auction the schedule property today and prayed for stay of the auction sale scheduled today. Learned Counsel for the applicant submits that the Bank has not issue notice to the legal heirs of the deceased and issued notice against a dead man and also not taken into consideration the amount deposited by the applicant and there is prima-facie in favour of the applicant Heard both the Counsels and perused the record. In view of the submission made above and to meet the ends of justice, , this Tribunal direct the Respondent Bank to proceed for auction sale scheduled today , but the same shall not be confirmed without the leave of this Tribunal. Applicant is directed to deposit Rs.25.00 lakhs within 15 days from today, failing which interim order sands automatically vacated. Put up on 10/04/2023 for hearing. (J. P. Singh) Presiding Officer |
DEBTS RECOVERY TRIBUNAL:ODISHA:CUTTACK ORDER SHEET
| SA No.-14/2024 | |||
|---|---|---|---|
| Sl. No |
Date of order. |
Order with the signature. | Action (if any) taken on the order. |
| 22.03.24 | Learned Counselfor the applicant present. Learned Counsel for the Respondent bank present along with Authorised Officer. Learned Counsel for the applicant submits that offer of settlement of Rs.1,05,000/- has been rejected by the Respondent Bank. Respondent Bank submits that as the auction is scheduled on 25/03/2024, at this stage OTS cannot be considered. Learned Counsel for the applicant submits that the applicant is ready to deposit the OTS amount within three months and prayed for stay of the auction sale scheduled on 25/03/2024. Heard both the Counsels and perused the record. In view of the submission made above and as the applicant is ready to deposit Rs.1,05,00,000/- within three months from the date of settlement and to meet the ends of justice, this Tribunal direct the Respondent Bank to proceed for auction sale scheduled on 25/03/2024, but the same shall not be confirmed without the leave of this Tribunal. Applicant is directed to deposit Rs.35.00 lakhs within 15 days from today and balance Rs.70.00 lakhs within 30 days thereafter, failing which interim order sands automatically vacated. Put up on 23/04/2023 for hearing. |
||
| (J. P. Singh) Presiding Officer |
1 issue framed by the court
Whether auction scheduled for 25/03/2024 should be stayed pending deposit of one-time settlement amount.
Applicant
Respondent Bank
J. P. Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
