Debts Recovery Tribunal dismissed the Securitization Application upon withdrawal of proceedings by the respondent bank, allowing liberty to challenge the bank’s notice under Section 13(3A).
The applicant will not be debited expenses; liberty given to challenge bank’s action under Section 13(3A).
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 50
Case No.SA/515/2025
MS AJANTA TRADING COMPANY Vs CANARA BANK
Date: 06.10.2025.
Proceedings through hybrid mode Present:
Ms. Shristi Mathur, Counsel for the Applicant
Shri Rajkumar, Counsel for the Respondent Bank/FI
In this matter, all the proceedings have been withdrawn by the bank. The expenses of proceedings shall not be debited in the account of the applicant.
Fresh notice under Section 13(2) has already been issued which replied by the respondent bank under Section 13(3A).
The applicant will be at liberty to challenge such action of the bank as and when situation arises.
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
2 provisions across 2 enactments
MS AJANTA TRADING COMPANY
CANARA BANK
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
