The DRAT withdrew proceedings under the SARFAESI Act initiated by the respondent bank. The court ordered the discharge of the applicant from prior interest liabilities due to the respondent's fault and allowed a challenge to any fresh notices.
Exempted applicant from prior interest; liberty to challenge future notices via Securitization Application.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 74
Case No. SA/204/2026
CHITRANJAN JAIN Vs CP CAPITAL LIMITED
Date: 21.07.2026.
Proceedings through hybrid mode Present:
Shri Shreyansh Gupta, Counsel for the Applicant
Shri Abhishek Bhardwaj & Sh. Ayush Malik, Counsel for the Respondent Bank/FI
In this matter, entire proceeding has been withdrawn by the respondent bank. As the entire proceeding has been withdrawn, the respondent bank shall not debit to the account of the applicant as for the fault of the respondent bank, the applicant shall not be burdened with the interest from the earlier notices under Section 13(2) & 13(4).
If the respondent bank issue fresh notices under Section 13(2) & 13(4), the applicant will be at liberty to challenge the same by way of filing Securitization Application.
In view of the above, this Securitization Application stands disposed. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
1 provisions across 1 enactments
Chitranjan Jain
CP Capital Limited
Vimal Gupta
As recorded by the court registry
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