Allowed

Aamner Multi Food Processing v. Central Bank of India

DRT2 Mar 2026SA/663/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed a settlement scheme for the applicant to repay the respondent bank in six installments. The bank was directed to wait for payments for a specified period; failure to pay the first installment would entitle the bank to initiate auction proceedings without a fresh redemption period.

What did the court decide?

Applicant allowed to repay in six installments; Bank restrained from auction pending payment of first installment.

Aamner Multi Food Processing versus Central Bank of India — Banking and Recovery | DRT (2026)

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ORDER SHEET page No.......i

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DEBTS RECOYERY TRIBUNAL, Jabalpur S.A. No.663 of 20.25

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Aamner Multi Food Processing Vs Centrat Bank of India Date: 02.03.2026 Serial No.04

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,^{Called out, Ld. Counsel for the Applicant & Ld. Counsel} for Respondent Bank has appeared through Video Conferencing.

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As per Ld. Counsel for the Respondent Bank, the amount jn question is of Rs.20,32,AOA|- as bn 26.03.2025.

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Ld. Counsel for the Respondent Bank has argued that.no bid has been received to the Respondent Bank in the auction sale in question.

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Ld. Counsel for the Applicant has argued that the applicant wants to repay the borrowed money through settlement due to poor condition.

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After considering whole of the situation of this matter, the applicant shall repay the borrowed money in the manner as under:Rs.4.00Lakh within 30 days from today i.e. on or before 02.04.2426

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Rs.4.OOLakh within 30 days on or before 04.05.2026.

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Rs.3.00Lakh on or befiore 03.06.2026.

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Rs.3.00Lakh on or before 03.07.2026.

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Rs.3.00lakh on or before 03.08.2026

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Rs.3.00 Lakh on or before 03.09.2026.

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The Respondent Bank shall be entitled for interest in decreaslng manner and the amount deposited by the applicant shall be the part of non-performing asset and the Respondent Bank shall not adjust the in expenses, interest and any other charges etc.

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The applicant shall repay interest and expenses after completion of these installments within 30 daVs. 1

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ORDER SHEET Page No,..,....

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DEBTS RECOYERY TRIBUNAL, Jabalpur

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S.A, No.563 of 2f/25

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Aamner Multi Food Processing Vs Central Bank of India

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This order shall not come in the way of settlement, lf parties want to settle the matter may settle. The Respondent Bank shall wait for repayment of Rs.4.00Lakh up to 02.A4.2076, if the applicant

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fail in repayment of Rs.4.001-akh on or before 02.04.2026, the Respbndent Bank shall be entitled to issue auction sale notice and there shall be no need fior the Respondent Bank for providing redemption period, as the redemption period has already been provided by the Tribunal to the applicant. It is also pertinent to mention here that if the applicant shall commlt any default in repayment as per direction of this order, the Respondent Bank shall be free to recover the borrowed money in accordance with law.

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In the light of above observation, the petitlon is disposed off accordingly

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All interim application are also disposed off.

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Interim order, if any vacated.

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Record be consigned.

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(Umesh Kumar Sharma) Presiding Offlcer DRT, Jabalpur, Addl. Charge

Aamner Multi Food Processing v. Central Bank of India

Case brief

What is this about?

What did the court decide?

Aamner Multi Food Processing v. Central Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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