Ms Piramal Capital and Housing Finance Limited v. Anita Rani
Case brief
What is this about?
The Debt Recovery Tribunal recalled an order disposing of a writ petition regarding SARFAESI action. This was due to a miscommunication where the creditors representative incorrectly represented that accounts were settled via Outreach Settlement for Rs. 24 Lacs, though actual dues remained. Possession was stayed.
What did the court decide?
Order in SA No.174/2025 recalled; Possession ordered for 24.06.2025 stayed till next date; Writ Petition to come up on 11.07.2025.
What the court decided
MA No.74/2025
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
MA/74/2025 M/S PIRAMAL CAPITAL & HOUSING FINANCE LTD. Vs ANITA RANI
23.06.2025 Item No.27 (S-2)
Present: Mr. Nitin Grover, Counsel for the Piramal Capital/FI. Mr. Puru Gupta, Counsel for Anita Rani.
Registrar has put up this MA before me. Mr. Puru Gupta, accepts notice on behalf of the Anita Rani.
Today i.e. 23.06.2025 this Tribunal disposed of SA No.174/2025. The order dated 23.06.2025 passed in SA No.174/2025 is reproduced herein: -
It is stated that the possession of the secured asset is fixed up for tomorrow i.e. 24.06.2025. Counsel for the applicant states that applicant would deposit Rs.24.00 Lacs by 01:00 PM tomorrow i.e. 24.06.2025. Mr. Grover, on instructions from the respondent (Piramal Capital), states that in case, applicant deposits Rs.24.00 Lacs by 01:00 PM tomorrow i.e. 24.06.2025, bank would not take the possession. He further states that by the payment of Rs.24.00 Lacs the account would also be settled under the OTS. In case, the payment is not made the respondent would be free to take the possession. In view of this, SA stands disposed off and respondent is also directed to release the title deeds.
Piramal Capital has filed this MA for recalling this order. Counsel for the Piramal Capital states that due to some miscommunication and oversight the above statement was made on behalf of the Piramal Capital. It is stated that in fact, there are two loan accounts. One for Rs.10,53,679/- and another for Rs.17,67,524. As on today a sum of Rs.17,78,830/-
Issues for consideration
2 issues framed by the court
Whether to recall the order disposing of the Restriction Writ Petition due to miscommunication regarding settlement of dues.
Whether disposal over secured assets should be stayed pending the next date of hearing.
Parties & counsel
- appellant
M/S PIRAMAL CAPITAL & HOUSING FINANCE LTD.
- appellant
ANITA RANI
Coram
A S Narang
Case details
As recorded by the court registry
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