The Securitization Application was disposed of as infructuous after the respondent bank submitted that it withdrew a Section 13(2) notice and never issued one.
The Securitization Application is disposed of as infructuous. The bank is prohibited from debiting expenses and permitted to issue a fresh notice.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 47
Case No. SA/467/2022
KRISHNA SOFTY AND SOFTY Vs RELIGARE FINVEST LIMITED
Date: 12.08.2026.
Proceedings through hybrid mode Present:
Shri R N Vijay, Counsel for the Applicant
Shri Ritesh Dhingra, Counsel for the Respondent Bank/FI
In this matter, the counsel for the respondent bank submits that they have withdrawn the notice under Section 13(2). He further submits that they have not issued any notice under Section 13(2) till date.
The respondent FI may not debit the expenses of the proceedings in the account of the applicant.
In view of the above, this Securitization Application stands disposed of as infractuous.
The respondent bank is at liberty to issue fresh notice under Section 13(2). The applicant is at liberty to rise all the questions including interest for the delayed period of enforcement security as and when the respondent bank fresh actions.
File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
1 issue framed by the court
Whether the respondents bank can debit expenses if notice under Section 13(2) is withdrawn and never issued.
1 provisions across 1 enactments
Krishna Softy and Softy
Religare Finvest Limited
Vimal Gupta
As recorded by the court registry
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