Disposed

Idris Ilyas Khatri v. Indian Bank

DRT30 Jan 2024SA/367/2023

Case brief

AI extract

What is this about?

Security application disposed of for non-compliance with payment terms. Applicant directed to deposit 62 lacs via two post-dated cheques by March 25, 2024. Bank granted liberty to proceed if cheques not given/dishonoured.

What did the court decide?

Application disposed for non-compliance; applicant directed to give two post-dated cheques of Rs.31 lac each for total Rs.62 lac; bank at liberty to proceed if cheques not given/dishonoured.

30
Sr

.01.20
. No.1

24
4 S.A.No.367/2023

Classific
ation

No. of
Exh.

SECURITISATION APPLICATION No.367/2023
Idris Ilyas Khatri
..Applicant
Versus
Indian Bank
..Defendants
Mr. Patil Vaibhav R - Advocate for the applicant.
Mr. Prashant Nikam – Advocate for defendants
The matter is taken through Hybrid.
1. The learned counsel for the applicant requests to dispose of
the Interlocutory Application no. 2154/2023 and seeks time
to file fresh Interlocutory Application in the matter. The
learned counsel for the applicant also submits that the matter
is under settlement.

2. The OTS proposal dated 13.12.2023 is placed on record.
The learned counsel for the respondent submits that the
borrowers are not obeying the terms of proposal given by
them. Rs.10 lac which has to be deposited on 01.01.2024 has
been deposited on 08.01.2024. The amount of Rs.21 lac
which has to be deposited on 25.01.2024 was not deposited
but has deposited Rs. 20 lac on 29.01.2023.
3. The learned counsel for the applicant submits that they will
pay all the dues by 25.03.2024.
4. In view of the above statement made by the counsel for the
applicant, I pass the following order.

ORDER A. The Securitisation Application no. 367/2023 is disposed of
for non-compliance and for non-payments as per the
scheduled given by the applicant with direction that the applicant shall have to give two post-dated cheques of
Rs.31 lac each dated 25.02.2024 & 25.03.2024 respectively in favour of the bank and the copy of the same will also be given to the Tribunal also.
B. The bank is at liberty to proceed ahead under securitisation if cheques are not given and/ or dishonoured.
C. Consign the file to the Record Room and orders be uploaded on official web-site
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

ORDER
A. The Securitisation Application no. 367/2023 is disposed of

for non-compliance and for non-payments as per the

scheduled given by the applicant with direction that the
applicant shall have to give two post-dated cheques of

Rs.31 lac each dated 25.02.2024 & 25.03.2024 respectively
in favour of the bank and the copy of the same will also be
given to the Tribunal also.

B. The bank is at liberty to proceed ahead under securitisation
if cheques are not given and/ or dishonoured.

C. Consign the file to the Record Room and orders be
uploaded on official web-site

(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

Idris Ilyas Khatri v. Indian Bank

Case brief

What is this about?

What did the court decide?

Idris Ilyas Khatri v. Indian Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases

Champalal Bherulal Jain Prop Zankar Palace versus The Malkapur Urban Co-Op Bank Ltd.

Vaidyanath Sahakari Sakhar Karkhana Limited versus Union Bank of India

Shubham Subhash Bajpai versus Maharastra Gramin Bank

Union Bank of India versus M/S Krushnai Meditext Pvt. Ltd.

Kohinoor Garments versus Bank of Maharashtra

Mr Mohseen Mufeejoddin Quazi versus Shriram Finance Limited