Partly allowed
Bhola Ghosh and Anr. v. L and T Finance Ltd.
DRTSA/239/2023
Case brief
AI extract
What is this about?
The Debts Recovery Tribunal allowed the respondent bank's prayer to set aside a previous order affecting notice under Sections 13(2) and 13(4) of the Act, vacationing an interim order. The main application was dismissed as infructuous, but the bank was expressly directed not to proceed with further recovery on the specific notices in question while retaining liberty to initiate fresh action.
What did the court decide?
Direction to Respondent Bank not to proceed with further SARFAESI proceedings on basis of impugned notices; liberty to initiate fresh SARFAESI action; main application dismissed.