The Debts Recovery Tribunal dismissed an applicant's Securitization Application alleging limitation issues and non-disclosure of a related civil suit. The court imposed a cost on the applicant while file being consigned.
Securitization Application dismissed with a cost of Rs. 5,000/- to be paid to the DRT Bar Association, Jaipur.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 48
Case No. SA/697/2024
RAMESH KUMAR PAREWA Vs BANK OF BARODA
Date: 10.03.2026. Proceedings through hybrid mode Present:
Shri T S Parmar, Counsel for the Applicant Shri Sanjog Gupta, Counsel for the Respondent Bank/FI
In this matter, the counsel for the respondent bank submits that the Securitization Application is not within the limitation and there is a nondisclosure of the civil suit filed by the borrowers on the same cause of action challenging the DM order.
The counsel for the applicant submits that they were not aware about the DM order which was passed in the year 2021. So far as disclosure of the civil suit is concerned, the counsel for the applicant submits that his client never informed about the filing of the civil suit and only through the reply filed by the respondent bank he came to know about the filing of the suit.
It is for the parties to disclose about the filing of the civil suit and there is no mistake on the part of the counsel for not disclosing that fact. If the parties are deliberately/ intentionally/ mala fidely have not disclosed the filing of the civil suit on the same cause of action, this Securitization Application deserves to be dismissed with the cost.
Accordingly, this Securitization Application stands dismissed with a cost of Rs. 5,000/- to be paid to the DRT Bar Association, Jaipur. File be consigned to record, as per rules. Copy of order be uploaded on website
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
2 issues framed by the court
Whether the Securitization Application is beyond limitation and non-disclosure of a related civil suit warrants dismissal.
Whether lack of knowledge about a Debt Management order or a pending civil suit justifies the omission of disclosure in the application.
RAMESH KUMAR PAREWA
BANK OF BARODA
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
