Court disposed of an application for early hearing regarding a securitization proceeding. The tribunal dismissed the securitization application, allowing the bank to take fresh proceedings.
Respondent bank is at liberty to take fresh proceedings under SARFAESI; application expenses not to be debited.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 48
Case No. SA/732/2025
BHAIRU NARAIN MATHUR Vs ORIX LEASING AND FINANCIAL SERVICES INDIA LIMITED
Date: 05.08.2026.
Proceedings through hybrid mode Present:
Shri Nirmal Verma, Counsel for the Applicant
Shri Pramod Kumar, Counsel for the Respondent Bank/FI
Counsel for the applicant has filed an IA no. 825/2026 for early hearing. Today, the matter is taken up for hearing, therefore, IA no. 825/2026 stands disposed of.
In this matter, the counsel for the respondent bank submits that they are withdrawing all the proceedings and seeks liberty of this Tribunal to take fresh proceedings under the SARFAESI.
Counsel for the applicant submits that this is the second time when the Securitization proceedings are being withdrawn by the respondent bank. He request for cost to be imposed to the extent of court fees paid.
This plea can the taken at the time when bank issues fresh notice of take fresh proceedings, then they can challenge the same.
In view of the above, the respondent bank is at liberty to take fresh proceedings and all the expenses of this proceeding may not be debited in the account of the borrower.
Accordingly, this Securitization Application stands dismissed. File be consigned to record, as per rules. Copy of order be uploaded on website.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
BHAIRU NARAIN MATHUR
ORIX LEASING AND FINANCIAL SERVICES INDIA LIMITED
Vimal Gupta
As recorded by the court registry
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