Manoj Son of Shri Vishnu Lal Soni v. Kotak Mahindra Bank Limited
DRTSA/395/2024
Case brief
AI extract
What is this about?
The Tribunal stayed execution of an order by the Additional Collector, Ratlam, on security and interim basis, granting relief subject to deposit of outstanding loan amount in four instalments.
What the court decided
AI extract
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GO NTD. ORDER-SHEET
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PAGE No
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CASE NO
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| DATE | DESCRIPTIONOFTHE ORDER | REMARK |
|---|---|---|
| sA395/24 27t08t24 |
ShriPrabhatYadav,AdvfortheApplicant ShriAdamyaBajpai,Advforthe Respondent |
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| LMatteristakenupforhearingon applicationforcondonationofdelayIA No.2368/24andinterimreliefasprayed through SAagainstthe executionoforder dated24101124passedbytheAdditional CollectorRatlam. |
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| ,! | 2.OnmatterbeingtakenApplicant Counselinvitingattentiononnoticedated 29102124issuedby the Tehsildar District- RatlamwhichdeliveredtotheApplicants on03104124submitsthatthroughthis noticeforthefirsttimeApplicantscame toknownabouttheorderpassedbythe Additional CollectorRatlamthereafter Applicantsfiledthis SA whichiswithin timefromthedateofknowledge. 3.Ontheother handRespondent Counsel submits thereisno anvsuft'icientreasonto believethatApplicants werenothaving knowledge aboutpassingtheorderand opposestheprayerlorcondonationof delay and also praysfordismissalofthis SA. |
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| 4.ApplicantCounselsubmitsthatthe Applicantsarewillingtorepaythetotal outstandingasintimatedbythe RespondentBankhowevertheywants some reasonabletime |
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PAGE No.
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CONTD. ORDER.SHEET
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CASE No.
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| DATE | DESCRIPTIONOFTHE ORDER | REMARK |
|---|---|---|
| 5.RespondentCounselapprisedthatas on todayRs.2lLacis outstanding againstthe Applicants. 6.Respondent Counselfurthersubmits that iftheApplicantsarereadyandwillingto deposittotaloutstandingamountwithin fourmonthsthentheRespondent Bank shallnotexecutetheorderdated24101124 passedbytheAdditional CollectorRatlam. 7.Lookingtosubmissionofboththe counselsinopinionofthisBenchthisSA may bedisposedofsubjecttoliberryto deposittotaloutstandingamountRs. 2l Lacwithinreasonabletimeasbeing grantedby this Tribunal. 8.Thereforethis SAofthe Applicantsis beingdisposedoffinallysubjectto conditionsmentionedasbelow:- |
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| (i)TheApplicants shalldepositintheir loanaccountRs.21,00.000/-(Rupees Twenty OneLac)plusinterestaccrued fromtodaytilldepositinglastinstallment withtheRespondent-Bankinequalfour installmentswithinfourmonthsfrom today. |
.qa | |
| (ii)OutofitRs.5,25,000/-(RupeesFive LacandTwenty FiveThousandonly)shall bedepositedwithinonemonthi.e.,till 27109124,secondinstallmentRs.5,25,000/- (RupeesFiveLacandTwentyFive Thousandonly)shallbedepositedtill 27110124,thirdinstallmentRs.5 ,25,,0001- |
Coram
AI extract
R.S. Patel
Case details
As recorded by the court registry
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