The Tribunal disposed of a securitisation application with liberty to revive if the bank proceeds. It directed the bank to issue a 15-day notice before taking possession.
Liberty to revive application if bank proceeds; bank to issue 15 days notice before possession.
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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
| 18.03.2024 Sr. No.36 Diary No. 5/2023 |
|---|
| Classifi cation No. of Exh. |
| DIARY NO.5/2023 |
| Orbit Electromech Indian Private Ltd. ..Applicant Versus The Malkapur Urban Co-Op. Bank Ltd. ..Respondent Mr. P.P. Phadnis h/for Mr. S.V. Adwant – Advocate for the applicant. Mr. S.B. Gorde Patil – Advocate for the respondent-bank. The matter is taken through Hybrid. 1. The Securitisation application has to be disposed off with the liberty to the applicant to revive the same as the Liquidator is appointed but has not taken charge. 2. In view of the above, I pass the following order through video conferencing: ORDER A. Diary No.05/2023 stands disposed off with liberty to the applicant to revive the same in case the respondent bank proceeds ahead. B. The respondent bank shall issue 15 days’ notice before taking the possession. |
| C. File be consigned to the record room. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[SBJ] ( Diary No.5/2023) Page 1 of 1
Orbit Electromech Indian Private Ltd.
The Malkapur Urban Co-Op. Bank Ltd.
Vimal Gupta
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
