Dismissed

Ms Banwarilal Sriram Foods Pvt. Ltd. v. Union Bank of India (Andhra Bank)

DRT13 Jun 2025SA/39/2022

Case brief

AI extract

What is this about?

Application for possession of secured assets under the SARFAESI Act, where a compromise was reached before this Tribunal in a Lok Adalat settling all dues, leading to dismissal of the application as no adjudication was needed.

What did the court decide?

Application under Section 17 of the SARFAESI Act dismissed as no adjudication needed post settlement and withdrawal of cases.

Ms Banwarilal Sriram Foods Pvt. Ltd. versus Union Bank of… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL. I AT HYDERABAD

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DATED I-HIS THE 1 3TIT DAY OF JUNE, 2025

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PRESENT: GUMMADI GOPICHAND, PRESIDING OFFICER

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sA.No.39/2022

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1.M I s BanwarilalSriram Foods P.Ltd., Rep. by its Authorized Signatory

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Mr.Rajesh Kumar Gupta, S/o late Girdhari Lal, O lo 15- 1-568-569,lnani Complex,

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Siddiambe:r l)azar,

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Flyderabad-500 O 12.

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Mr.Rohit Kumar Agarwal, S/o Rajender Kumar Agarwal, Aged 47 years, Occ: Director Rl o 8-2-7OO lB I 1, Road No. 12, I3anjara Hills, Hyderabad-34.

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Mr.RajeshKumar Gupta, S/o late Giridhar Lal, Aged 53 years, Occ: Director Rl o 8-2-7OO lB I 1, Road No. 12, Banjara Hills, Hyderabad-34

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Mr.Sunil Kumar Agarwal, S/o Shankarlal , Aged 56 years, Occ: Business Rl o 8-2-7OO lB I 1, Road No. 12, Banjara Hills, Hyderaba d-34

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Mr.Anshul Kumar, S/o Anil Kumar Agarwal, Aged 32 years, Occ: Business Rl o 8-2-7OO lB I 1, Road No. 12, Banjara Hills, Hyderabad-34

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Mr.Shankarlai, S/o late Mohanlal, Aged 78 ycars, Occ: Business R/ o 8-2 -7OO lB I l, Iload No. 12, Banjara Hills, Hyderabad-34

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Mr.Anil Kumar, S/olate Sri ram, Aged 60 years, Occ: business Rl o 8-2-7OO lB I 1, Road No. 12, I3anjara Flills, Hyderabad-34

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Mr.utkarsh Agarwal, S/o Rajesh kumar Gupta, Aged 60 years, Occ: business Rlo 8-2-7OO lB I 1, Road No.12, Banjara Hills, Hyderabad-34

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Mrs.Deepa Gupta, W/o Rajesh Kumar Gupta, Aged 49 years, Occ: business Rl o 8-2-7OO lB I 1, Road No. 12, Banjara Hills, Hyderabad-34

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... Applicants

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Ancl

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Union Bank of India, Nampally branch, 5-4-445, Station Road, Nampally, Hyderabad-SOo 00 1 Rcp. by its Authorrzed signatory.

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Respondent Bank

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Courusel for the Applicants Sn 1V. Vinesh Raj Counsel for the Respondentbank :Sn V.SethuMadhaua Rao

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:ORDER:

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This application is filed by the Applicants u/s17 of the SARFAESI Act,2OO2, challenging the Possession Notice dt.24.O2.2O22 issued by the Respondent Bank in respect of the schedule property.

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The Respondent Bank filed their Reply resisting the above application.

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,^{the Applicants and the Respondent} they filed compromise memo in

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lat on 1O.06.2023. Consequently, an

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nv tt$ LokAdalat on 10.06.2023 and as r that the Applicants herein paid an 2

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,fl'r".

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amount of Rs.5.50 crores to the Respondent Bank herein towards full and final settlement of entire dues and the Applicants also agreed to withdraw all the cases against the Respondent herein. Both the Ld.Counsel submitted that in view of the award dt.10.06.2023 passed in National LokAdalat, nothing survives in the SA for adjudication.

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4- Hence, considering all the circumstances, I am of the opinion that in view of the settlement between both the parties, there is no need to adjudicate regarding the validity or otherwise of the impugned possession notice dt.24.O2.2022 issued by the Respondent Bank in respect of the schedule property and So, the SA is liable to be dismissed.

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In the result, the present Securitization Application is dismissed as there are no merits.

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Communicate a copy of this order to the parties concerned.

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(Dictated to the P.S transcribed by her, corrected, signed and pronounced by me in the open court on this the 13th day of June, 2025).

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sd/(G. GOPr CHANDI RESIDING OFFICER

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DRT.I, HYDER.{q/trD,

Ms Banwarilal Sriram Foods Pvt. Ltd. v. Union Bank of India (Andhra Bank)

Case brief

What is this about?

What did the court decide?

Ms Banwarilal Sriram Foods Pvt. Ltd. v. Union Bank of India (Andhra Bank)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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