The Tribunal disposed of the Securitization Application as infructuous since the respondent bank accepted the On-Time Settlement (OTS) proposal, requiring full deposit of the outstanding amount by 31.12.2025.
Securitization Application disposed of as infructuous; file consigned to record room.
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DEBTS RECOVERY TRIBUNAL LUCKNOW
| Date oforder or proceeding |
Order withsignatureof court | Officeaction taken with date |
|---|---|---|
| S.A. No.967/2023 12.11.2025 SL.No.38 |
ShriNirmitSrivastava Ld. Counselfor theapplicantispresent. Shri Prashant Kumar SrivastavaLd. Counselforthe respondentbank ispresent. Ld. Counsel for the applicantsubmits that in this case OTSproposal submittedby the applicant has been accepted bythe respondentbank. Ld. Counsel for the respondent bank submitsthat as the OTS proposal hasbeen accepted by the bank, theentire outstanding amount is to be deposited by 31.12.2025 and the SA has becomeinfructuous. In view of the fact, the present Securitization Application is disposed off as infructuous. Let the file be consigned to record room. Order be uploaded on the Tribunal’s website. (Dictated) r (PravasKumar Singh) PresidingOfficer Mugjsh |
1 issue framed by the court
Whether the present Securitization Application is infructuous given the acceptance of OTS proposal by the respondent bank.
Debts Recovery Tribunal Lucknow
respondent bank
PravasKumar Singh
As recorded by the court registry
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