Order allowing withdrawal of notice and regarding charges for securitization expenses. Bank permitted to initiate fresh securitization proceedings and not debit earlier expenses to applicant's account.
Request to not charge expenses allowed; Bank at liberty to proceed with fresh securitization.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item no. 50
SA/404/2026
MS VINAYAK PETROCHEM AND ORS Vs PUNJAB NATIONAL BANK
Date: 17.07.2026
Proceedings through hybrid mode:
Present:
Shri Bhrigu Sharma, Counsel for the applicant
Shri Vikas Jain, Counsel for the Respondent
In this matter, counsel for the respondent bank submits that they are withdrawing notice under Section 13(2) and all subsequent proceedings.
Counsel for the applicant request to not to charge these expenses from the account of applicant.
Request is allowed.
Bank is at liberty to proceed with fresh securitization proceedings. The expenses of earlier securitization proceedings may not be debited to the account of the applicant.
Let the details of legal representative of deceased borrower be placed on record.
With these directions, SA stands disposed of, 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
cm
MS VINAYAK PETROCHEM AND ORS
PUNJAB NATIONAL BANK
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
