India Bulls Assets Reconstruction Company Ltd. versus M/S Badri Narain Sita Ram Somani

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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Item No. 13

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Case No.MA/216/2022 IN OA/1421/2019

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INDIA BULLS ASSETS RECONSTRUCTION COMPANY LTD Vs M/S BADRI NARAIN SITA RAM SOMANI

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Date: 01.07.2025. Proceedings through hybrid mode Present:

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Shri Shubham Maheshwari, Counsel for the Applicant

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Shri Vineet Sharma, Counsel for the Respondent Bank/FI

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This Misc. Application filed by the applicant and submitted that OA no. 1421/2019 was decided by this Tribunal finally on 20.07.2022 and after elaborate discussion and approval of applicant bank a letter was issued by the applicant on 12.08.2021 wherein the property mentioned in Para 3A of the OA which is “834-835, Somani Bhawan, SBBJ Bank Street, Chaura Rasta, Jaipur (Raj.)” was to be released and applicant ensured no recovery shall be made from this property in future by the applicant bank/FI. It is further submitted that in letter dated 12.08.2021 defendant no. 2 made payments amounting to Rs.1.20 Cr. and pursuant to such payments made the property papers of the above mentioned property were released along with charge on property.

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This Misc. Application stands allowed. Ld. Recovery officer is hereby directed to exclude the property mention in this Misc. Application “834-835, Somani Bhawan, SBBJ Bank Street, Chaura Rasta, Jaipur (Raj.)” from the array of the proceedings. No action should be taken as the property stood released.

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In view of the above submissions, this Misc. Application stands disposed off. File be consigned to record, as per rules. Copy of order be uploaded on website.

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur

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India Bulls Assets Reconstruction Company Ltd. v. M/S Badri Narain Sita Ram Somani

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India Bulls Assets Reconstruction Company Ltd. v. M/S Badri Narain Sita Ram Somani

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