The DRT disposed of a securitisation application filed by the applicant against the respondent, noting no merits in the case and granting liberty for settlement, while directing adjustment of deposited amount.
Securitisation Application disposed off with liberty to applicant for settlement; deposited amount adjusted in book liability.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET
| 20 Sr |
.03.20 . No.87 |
24 SA No.424/2022 |
|---|---|---|
| Classifi cation |
No. of Exh. |
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| SECURITISATION APPLICATION No.424/2022 Sayyad Imran Sayyad Abrar ..Applicant Versus Intec Capital Limited ..Respondent |
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| Mr. Momin Toufiqahamad Jalaloddin – Advocate for the applicant. Mr. S.R. Deshpande - Advocate for the respondent. The matter is taken through Hybrid. 1. In this matter the learned counsel for the applicant has filed the synopsis. |
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| 2. It is submitted that the bank is proceeding under securitisation and under section 138 of Negotiable Instruction Act also. The proceedings under section 138 of Negotiable Instruction Act must have been filed |
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| because the payments which were made to the respondents were not being made. The proceedings |
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| under section 138 of the Negotiable Instruction Act are | ||
| not recovery proceeding. They are criminal proceedings for bouncing of the cheques. |
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| 3. Nothing concrete has been brought on record to say that the action of the respondent institution is incorrect. |
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| 4. In these circumstances there is nothing in this |
[SBJ]
(SA No.424/2022) Page 1 of 2
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
[SBJ]
(SA No.424/2022) Page 2 of 2
Sayyad Imran Sayyad Abrar
Intec Capital Limited
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
