Applicant offered to regularize account via deposit. Directed applicant to deposit amount and provide undertaking for future installments. Securaization application disposed in favor of applicant conditions.
Directed applicant to deposit overdue amount and give undertaking to pay regular installments; otherwise bank may proceed with securitization.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 10
Case No. SA/256/2025
MS MAHADEV MOTORS Vs INDUSIND BANK LIMITED
Date: 23.06.2025.
Proceedings through hybrid mode
Present:
Shri Tushar Panwar, Counsel for the Applicant
Shri Akash Sharma, Counsel for the Respondent Bank/FI
In this matter, counsel for the applicant submits that they are ready and willing to regularize the account and they have already prepared a Demand Draft for the overdue amount and shall be depositing shortly.
Counsel for the respondent bank submits that they may be directed to pay the regular installments thereafter, failing which the respondent bank may be permitted to continue with the securitization actions.
Let the applicant deposit that amount with the respondent bank and shall also give an undertaking that they will pay regular installment and in case they do not pay, the bank will be at liberty to proceed.
In view of the above, this Securitization Application stands disposed of. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
MS MAHADEV MOTORS
INDUSIND BANK LIMITED
Vimal Gupta
As recorded by the court registry
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