Disposed

Sai Architectural Systems Pvt. Ltd. v. Saraswat Cooperative Bank Limited

DRT14 Jan 2026SA/21/2026

Case brief

AI extract

What is this about?

An interim order deferred the disposal of SA regarding physical possession of property, granting the Applicant time to settle and close the loan account while allowing the Respondent to take specific measures if conditions fail. This case disposed of the I.A. and S.A. with directives.

What did the court decide?

Deferred taking physical possession; Applicant allowed time to settle and close loan account; Respondent granted liberty to take SARFAESI Act measures upon failure.

Sai Architectural Systems Pvt. Ltd. versus Saraswat… — Banking and Recovery | DRT (2026)

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14.01.2026	Exh.	*Roznama-MDRT-II* *S.A. No.21 of 2026*	Next date
	7	Mr Abhinandan Doshi, Advocate for the Applicant. Mr Aayush Kothari, Mr Vinay Deshpande and Ms Aneri Shah i/b M/s. V. Deshpande & Co., Advocates for Respondent. During the hearing, Ld. Advocate for the Applicant submits that the Applicant wish to settle the matter with the Respondent Bank. Accordingly, the Applicant filed pursis (exhibit-7) stating that the Applicant is ready and willing to deposit Rs.20 lakhs by 5 p.m. today itself i.e., 14.01.2026 and further undertakes to approach the Respondent Bank within 15 days from today to settle and close the loan account on or before 25.03.2026 and in case of failure, the Applicant submits the Respondent can be at liberty to take physical possession. So, in view of pursis filed above, physical possession fixed for 17.01.2026 be deferred subject to condition mentioned in pursis (exhibit-7) failing which the Applicant shall handover the

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nrb - 02	physical vacant possession of the subject property to the Respondent and the Respondent would be at liberty to take appropriate measures under the SARFAESI Act. The Applicant shall approach the Respondent Bank within 15 days from today to settle and close the loan account on or before 25.03.2026 and the Respondent Bank is also expected to deal with the matter with positive attitude. In view of above, nothing remains in the I.A. as well as the S.A. Hence, I.A. No.107 of 2026 and S.A. No.21 of 2026 stands disposed of accordingly. File be consigned to the Record Room after due compliance. Sd/- P.O. DRT-II	Closed

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Sai Architectural Systems Pvt. Ltd. v. Saraswat Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

Sai Architectural Systems Pvt. Ltd. v. Saraswat Cooperative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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