Order disposing of a miscellaneous application regarding NOC, return of title deeds, excess payment relief, and settlement of pending interest and rent disputes between the insolvent and the Bank. No substantive ruling issued.
None granted; order disposed of without substantive relief on the applications made.
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.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 136
Case No. MA/87/2023 IN SA/45/2014
GARMENT CRAFT Vs PANJAB NATIONAL BANK
Date: 16.05.2025.
Proceedings through hybrid mode
Present:
Shri Anil Kumar Sharma, Counsel for the Applicant along with applicant Shri B C Jain, Counsel for the Respondent Bank/FI along with authorized officer
An IA is moved by Ms. Manju Garg and Shivani Gupta to become co-
applicant. It is prerogative of SA applicant as to who can be the applicant
and IA applicants are not necessary parties wherein they could have filed
fresh SA, but having not chosen to file SA they have lost the opportunity to challenge any action.
It has been countered that bank shall give No Dues Certificate/ NOC for
all accounts and ROC charge shall be deposited within 30 days.
All original title deeds will be returned to mortgagors/ owners.
Excess amount along with accrued interest shall be paid within 30 days
and Tax deducted certificate shall also be issued.
The goods lying at bank storage shall be removed as it is what it is basis
within 30 days. The bank is claiming rent and applicant is claiming
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
interest at higher rates, but let this be off set against each other i.e. Bank
will not claim rent and applicant will not claim higher interest.
All pending litigations to be withdrawn by parties.
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.
In case of any exigency, concerned parties can move appropriate application.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
GARMENT CRAFT
PANJAB NATIONAL BANK
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
