The Tribunal disposed of a Section 17 (1) application challenging recovery measures. The applicant undertook full payment and continuing EMIs to regularize the account upon default, satisfying the bank.
Application disposed; Bank granted liberty to proceed in case of future default.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 13
Case No. SA/524/2026
SONU Vs INDIA SHELTER FINANCE CORPORATION LIMITED
Date: 10.06.2026.
Proceedings through hybrid mode
Present:
Shri Navdeep Singh, Counsel for the Applicant
Shri Pramod Kumar, Counsel for the Respondent Bank/FI
It is a fresh SA filed on behalf of S. applicant under Section 17 (1) of SARFAESI Act, 2002 challenging the measures taken by the respondent bank under the SARFAESI Act, 2002 in respect of the property in question.
Counsel for the applicant submits that they want to regularize the account.
Notice on behalf of the respondent bank has been accepted by the counsel present in Court and submits that the respondent shall intimate the total overdue amount within two days from today. The counsel for the applicant submits that the applicant will make payment of the entire overdue by 15.07.2026 and also gave an undertaking to the bank that the applicant will deposit continue EMIs as and when due, but in case of single default, the respondent bank will be at liberty to proceed.
In view of the above, this Securitization Application stands disposed of. 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 application challenging recovery measures should allow the applicant to regularize the account before adjudication.
1 provisions across 1 enactments
Sonu
India Shelter Finance Corporation Limited
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
