Disposed

Shamit Educational Trust v. The Malkapur Urban Co-Op Bank Ltd.

DRT21 Mar 2024SA/1/2023

What the court decided

AI extract

Outcome

Disposed

Shamit Educational Trust versus The Malkapur Urban Co-Op Bank… — Cooperative Societies | DRT (2024)

IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, AURANGABAD) ORDER SHEET

	21.03. Sr. No	2024 .120 S.A.No.1/2023
Classific ation	No. of Exh.
		SECURITISATION APPLICATION No.1/2023 Shamit Educational Trust ..Applicant Versus The Malkapur Urban Co-Op Bank Ltd & others .. Respondent
		Mr. Adwant S V - Advocate for the applicant. Mr. Gorde Sandeep B. – Advocate for respondents 1. The learned counsel for the respondent bank submits that the banking license has been cancelled and the liquidator has not taken the charge till date. The learned counsel for the applicant requests for liberty to revive Securitisation Application in case of exigency. 2. In view of the above, I pass the following order: ORDER A. The Securitisation Application No.01/2023 stands disposed of with liberty to the applicant to revive the Securitisation Application as and when the liquidator takes charge and the bank start to take action against the applicant. The applicant may approach the bank for settlement. B. The bank is directed to issue minimum 15 days prior notice to the applicants, if the bank desirous to take any action
		C. All pending IA in the proceeding, if any are disposed of accordingly. 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]