Disposed

Ashok Industries v. Unity Small Finance Bank Limited

DRT5 Jan 2026SA/314/2024

Case brief

AI extract

What is this about?

The Tribunal allowed withdrawal of a possession notice. The original possession notice and Magistrate's order became infructuous. The applicant's special appeal was disposed of as infructuous.

What did the court decide?

The possession notice dated 19.10.2024 and the Magistrate's order declared infructuous. The applicant was required to pursue a fresh limitation period for applying for possession.

Ashok Industries versus Unity Small Finance Bank Limited — Banking and Recovery | DRT (2026)

¶1

Case No. SA	Order Sheet 314 of 2024 ASHOK INDUSTRIES -VS- UNITY SMALL FINANCE BANK LI	MITED
Date of the Order	Order with Signature	Office action date and da Signature Parties wh necessar
5.1.2026 (Sl. No. 53)	Mr. Ajit Keshari. … For the Sarfaesi Applicant. Ms. Tutul Das Singh, Mr. B. Chakraborty. … For the Respondent Finance Company.
	Learned counsel for the respondent finance company has filed IA 2448 of 2025 for withdrawal of possession notice to which learned counsel for the applicant wants to file objection but could not file the same.
	It is submitted by learned counsel for the applicant that if possession notice is withdrawn then order of the learned Magistrate will become infructuous to which learned counsel for the finance company submits that as the order is subsequent to possession notice, the same will also go. Learned counsel for the finance company seeks leave of the Tribunal to issue fresh possession notice.
	IA 2448 of 2025 is allowed. Possession notice dated 19.10.2024 becomes infructuous along with order of the learned Magistrate which also becomes infructuous.
	The respondent finance company may issue fresh possession notice to the applicant.

¶2

¶3

As the applicant has challenged the possession notice, the SA is also infructuous. After issuance of fresh notice, the applicant may file application under Section 17(1) within the period of limitation from the date of receipt of possession notice. SA is disposed of as infructuous. (Ambuja Mohan Das) Presiding Officer ac

Ashok Industries v. Unity Small Finance Bank Limited

Case brief

What is this about?

What did the court decide?

Ashok Industries v. Unity Small Finance Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases

Bank of Baroda versus Ms K.P Enterprise

Punjab National Bank versus Mr Ram Prasad Naskar

Bank of Baroda versus Mrs Kavita Agarwal

Idbi Bank versus Central Educational Enterprises Pvt. Ltd.

Ranajit Dutta and Anr. versus Paschim Banga Gramin Bank

Ms Tara Ma Blouse Corner versus Punjab and Sind Bank