Allowed

Jmv Polymer Ltd. Formerly Known as Fortune Industries v. the Authorised Officer of Parimal Capital and Housing Finance Ltd.

DRT5 Aug 2024SA/850/2022

Case brief

AI extract

What is this about?

Application for withdrawal of special application related to SARFAESI Act proceedings allowed after parties' amicable settlement; main application and connected matters disposed of as withdrawn.

What did the court decide?

instant application allowed as application withdrawn; main S.A. disposed of as withdrawn.

What the court decided

Jmv Polymer Ltd. Formerly Known as Fortune Industries versus… — Company and Corporate | DRT (2024)

¶1

Debts Recovery Tribunal-3, Kolkata Order Sheet ( Contin u atio n )

¶2

Case No. SA/450/ 2o22

¶3

IMV Polymer Ltd. (Formerly known as Fortune Industries) Vs. The AO, Parimal Capital and Housing Finance Ltd.

¶4

DateofOrder	Orderwithsignature
OrderNo.5 Dtl/a8/2024 Sl.No.24	Presenti ForApplicant:Mr,RSTiwari,Ld. Counsel ForRespondent:Mr.Amar Singh,LdCounsel
	Ld Counselfor theSARFAESIApplicantfiledLA.No.2359of2024 prayingforwithdrawalofthemain S.A. Theapplicationis supportedbyAffidavitoftheApplicantMr.ManishLakhotia, DiredoroftheApplicant. DuringthependencyoftheS.A.the matterhas been settledwiththeRespondent BankandtheBank hasrealizedandrecelvedthe settled amount.Itis alsostatedthat Applicantsarenomoreinterestedtoproceedfurther andhave prayedfol-disposalofthecasefornon-prosecution,Respondent Bank isalso not9oin9tocontinuewiththeinstantproceedingand has issueda'NoDuesCertificate,dated 23/OS/2O24. Sincethisis anamicable settlementbetweenthepartiesandtheApplicant intendstowithdrawthemain S.A., no prejudicewillbecausedif the I.A. isallowedwithoutinvitingresponsefrom otherside. Accordingly,theinstantI.A.is allowed and standsdisposedofin thecategoryofdismissedas withdrawn assetfledamicably. LA. No.2358beingthe putuppetitionis also disposed of. S.A. No.850 of 2022alongwith all otherpendingI.A.s, ifany,are disposedof as withdrawn. File beconsignedtoRecord Roomafterobservingall formalities.

DateofOrder

Orderwithsignature

OrderNo.5
Dtl/a8/2024
Sl.No.24

Presenti
ForApplicant:Mr,RSTiwari,Ld. Counsel
ForRespondent:Mr.Amar Singh,LdCounsel

Ld Counselfor theSARFAESIApplicantfiledLA.No.2359of2024
prayingforwithdrawalofthemain S.A. Theapplicationis
supportedbyAffidavitoftheApplicantMr.ManishLakhotia,
DiredoroftheApplicant. DuringthependencyoftheS.A.the
matterhas been settledwiththeRespondent BankandtheBank
hasrealizedandrecelvedthe settled amount.Itis alsostatedthat
Applicantsarenomoreinterestedtoproceedfurther andhave
prayedfol-disposalofthecasefornon-prosecution,Respondent
Bank isalso not9oin9tocontinuewiththeinstantproceedingand
has issueda'NoDuesCertificate,dated 23/OS/2O24. Sincethisis
anamicable settlementbetweenthepartiesandtheApplicant
intendstowithdrawthemain S.A., no prejudicewillbecausedif
the I.A. isallowedwithoutinvitingresponsefrom otherside.
Accordingly,theinstantI.A.is allowed and standsdisposedofin
thecategoryofdismissedas withdrawn assetfledamicably. LA.
No.2358beingthe putuppetitionis also disposed of.
S.A. No.850 of 2022alongwith all otherpendingI.A.s, ifany,are
disposedof as withdrawn.
File beconsignedtoRecord Roomafterobservingall formalities.

¶5

a^Kamat De )- Presiding Officer DRT-3. Kolkata

Jmv Polymer Ltd. Formerly Known as Fortune Industries v. the Authorised Officer of Parimal Capital and Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

Jmv Polymer Ltd. Formerly Known as Fortune Industries v. the Authorised Officer of Parimal Capital and Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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