Allowed

Ramu Prasad and Others v. Aadhar Housing Finance Limited

DRT15 Dec 2025SA/576/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal disposed of a stay application. The applicant offered to clear dues to regularize the account. The court directed the applicant to deposit specified amounts; upon compliance, the bank must regularize the account. Failure to comply allows the bank to proceed.

What did the court decide?

Directs applicant to deposit Rs. 2.00 Lacs within 7 days and remaining Rs. 3.00 Lacs within 2 months to regularize the account.

Ramu Prasad and Others versus Aadhar Housing Finance Limited — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL LUCKNOW

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Dateoforderor proceeding	Order with signature of court	Officeaction takenwith date
SA No.576/2025 15.12.2025 SINo.16. [	Sh. Nikhil Srivastava Ld counselfor theapplicantispresent. Sh. Ritesh Goel Ld counsel forthe respondent bank ispresent. Ld counsel for the applicantis pressingI.A.No.4692/2025earlyhearing application for restraining the respondent bank from takingphysicalpossessionof secured assets. In lieu of notice dated 20.11.2025 possession is scheduled on 17.12.2025. Ld counsel for theapplicantsubmitted that without entering into the merit ofthe case,applicantisready andwillingtosettle the account and out of overdue amountof RS.5.00 Lacs and odd inorderto regularize the accountapplicantis readyto pay Rs. 2.00 Lacswithin7 days ofthis order andremainingRs. 3.00 Lacswithin two monthsofthis order. LdcounselfortherespondentFI submitted as on date total dues is Rs. 18.00 Lacs and oddagainst theapplicant. However, if applicant deposits Rs.2.00 Lacswithin7days andrest amountwithin onemonthof this order,respondentbank FIshallregularizetheaccount. Inview of above, applicant isdirected to deposit Rs. 2.00 Lacswithin7 daysof this order and remaining Rs. 3.00lacs withintwo monthsofthis order,ifamountis depositedwithintime asstipulatedabove, respondent FI shall consider thesame

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sympethetciallly to regularize the account in accordance with law.

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It is made clear that it is a default order, if applicant fails to comply the above order, respondent FI shall be at liberty to proceed in accordance with law.

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At the request of Ld counsel for the respondent FI the present SA is disposed of in terms of above order.

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Accordingly, the present S.A. is disposed of.

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Record be consigned to record room. Pending I.A. if any, also disposed off. Order be uploaded on the Tribunal’s website. (Dictated)

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(Pravas Kumar\in9.1) Presiding Officer (Manoj)

Ramu Prasad and Others v. Aadhar Housing Finance Limited

Case brief

What is this about?

What did the court decide?

Ramu Prasad and Others v. Aadhar Housing Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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