Upon admission of the applicant's liability to the respondent bank, the Debt Recovery Tribunal dismissed the stay application and disposed of all pending interim applications.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 34
Case No. SA/758/2024
ANSHU PAPER INDUSTRIES Vs HERO FINCORP LIMITED
Date: 09.05.2025.
Proceedings through hybrid mode
Present:
Shri Kapil Kumar Kumawat, Counsel for the Applicant
Shri Vishwas Shukla, Counsel for the Respondent Bank/FI
In this matter, applicant admits their liability and he seeks time for making payment. 10% of the total outstanding liability be paid within 15 days as requested and balance amount be paid latest by 25.09.2025. Every month certain amount shall also be paid which shall not be less than 10% of the outstanding.
IF the amount is paid within the stipulated time, the bank may not take any coercive action.
Counsel for the applicant submits that the date of possession is fixed as 12.05.2025 and after Passover, he got the instructions and submits that a 15 days stay order may be granted.
Counsel for the applicant was given an opportunity to give a post dated cheque, but the applicant is not interested in that as he has no instructions for same. He argued the matter on merits.
He took only two objections, first one is that he has moved the application in January, but has given the dues as on 13.08.2024. The second objection is that Lis was pending before this Tribunal and 15 days advance notice was given. But, a false statement is made on oath that no matter is pending This SA was taken on 20.12.2024 and the notices were issued. However, the summons have been served belatedly and by that time application under Section 14 was already filed
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
therefore there is no false statement on oath. He further submits that DM orders are passed on 27.01.2025 & service was affected on 25.01.2025 that Respondent should have modified the application. The contentions are devoid of merits when the entire claim of respondent is admitted. All the challenges also go with admission. Therefore, this contention is not acceptable.
Accordingly, SA stands disposed of as dismissed, all pending IAs also stands disposed off, if any.
File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
Anshu Paper Industries
Hero FinCorp Limited
Vimal Gupta
As recorded by the court registry
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