Disposed

Dattakrupa Fertilizers v. State Bank of India

DRT18 Mar 2024SA/237/2022

Case brief

AI extract

What is this about?

The DRT disposed of a securitisation application where the applicant paid notice dues but owed a small interest portion. The court directed the bank to charge simple reasonable interest, grant concessions, and dispose of interlocutory applications.

What did the court decide?

Bank to charge only simple reasonable interest, grant concessions to applicant, and liberty to revive on failure of settlement.

Dattakrupa Fertilizers versus State Bank of India — Company and Corporate | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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18. Sr.	03.2024 No.63 SA No.237/2022
Classific ation	No. of Exh.
	SECURITISATION APPLICATION NO. 237/2022 Dattakrupa Fertilizers ..Applicant Versus State Bank of India .. Respondent
	Mr. Amol G. Vasmatkar - Advocate for the applicant. Mr. Arun rakh h/for Mr. S.R. Shirsath – Advocate for the respondent. The matter is taken through Hybrid. 1. In this matter the learned counsel for the applicant submits that they have paid the entire 13(2) notice dues only a small portion of interest is left.
	2. The learned counsel for the respondent bank submits that approximately Rs.3 Lacs (Rupees Three Lacs only) are dues.
	3. Rs. 3 Lacs (Rupees Three Lacs only) could not be the interest dues. Since the 13(2) notice amount has been paid, let the bank charge only simple reasonable interest and grant certain concessions to the applicant. 4. In view of the above, I pass the following order.
	ORDER
	A. The Securitisation Application No.237/2022 stands disposed off with libertyto the applicant to revive the

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[SBJ] (SA No.237/2022) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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same in case the settlement is not arrived at. B. Let the bank charge only simple reasonable interest and grant certain concessions to the applicant. C. Accordingly all the interlocutory applications stand disposed off. D. File be consigned to the record room. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (SA No.237/2022) Page 2 of 2

Dattakrupa Fertilizers v. State Bank of India

Case brief

What is this about?

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Dattakrupa Fertilizers v. State Bank of India

Case brief

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