In a Securitization Application, the Courts decided to dispose of the matter after the applicant submitted that he was willing to clear dues and regularize his car and home loan accounts as per RBI guidelines, while the bank had not provided necessary information.
Disposed of the Securitization Application.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 54
Case No.SA/571/2022
JITENDRA KUMAR NIMIWAL Vs STATE BANK OF INDIA
Date: 23.07.2025.
Proceedings through hybrid mode Present:
Shri Rohan Agarwal, Counsel for the Applicant
Ms. Praneeta Agarwal, Counsel for the Respondent Bank/FI
In this matter, Ld. counsel for the applicant submits that bank is not informing the dues to be paid as the applicant is willing to pay the due amount under the car loan. Further, he submits that bank is not informing whether they will regularize their home loan account or not.
For regularization of the account, first car loan would be closed by paying the entire liabilities, thereafter, if he pay the entire overdue along with interest and expenses in the home loan account and then as per RBI guidelines the bank will be able to regularize the account.
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 issues framed by the court
Whether the Debts Recovery Tribunal should dispose of the Securitization Application given the applicant's willingness to clear dues and regularize accounts.
Whether the appellant can proceed towards regularization of the home loan account by first closing the car loan.
JITENDRA KUMAR NIMIWAL
STATE BANK OF INDIA
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
