Debts Recovery Tribunal halted an auction of disputed property after the applicant offered to clear an overdraft and home loan dues within 30 days, subject to valuation concessions and documentation regularization.
Stayed auction proceedings; ordered applicant to deposit Rs. 4 lac and close OD account within 15 days; regularize home loan within 30 days.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 57
Case No.SA/224/2026
SHAKUNTALA DEVI Vs BANK OF BARODA
Date: 14.07.2026.
Proceedings through hybrid mode Present:
Shri Himanshu saini, Counsel for the Applicant
Ms. Anubha Singh, Counsel for the Respondent Bank/FI
In this matter, counsel for the applicant submits that he has tried to settle this matter. Counsel for the Respondent submits that value of the property is much higher, therefore it is not possible to grant them concession.
Applicant draws my attention to the valuation report and sanction letter which is for Rs. 27.00 Lac. Today the same property is put to auction for Rs. 26.00 Lac. He is ready and willing to close the OD account within 15 days. Rs. 4.00 Lac will be paid today itself. Balance of the OD amount shall be intimated tot eh applicant today itself which shall be paid within 15 days.
The respondent bank shall also intimate the amount to regularize the home loan and Tribunal feels that either fresh loan documents can be executed or appropriate steps be taken by the bank to safeguard their interest as one of the borrowers has been expired by taking appropriate authority and acknowledgement from the legal representatives as per existing guidelines.
If Rs. 4.00 Lac is deposited and undertaking is given today itself as stated above for closing OD account within 15 days and regularizing home loan account within 30 days, thereafter the bank shall not proceed with the auction.
Borrowers to comply the orders, failing which the bank will be entitled to proceed from the proceedings as of today,
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Accordingly, SA stands disposed of with the liberty to all the parties to move application in case of any exigency, 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
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SHAKUNTALA DEVI
BANK OF BARODA
Vimal Gupta
As recorded by the court registry
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