Relief under a Securitisation Application was dismissed due to non-compliance with a Tribunal order requiring the deposit of Rs. 10.00 Lacs within one week.
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Court of the Presi ding Officer Debts Recovery Tri bunal, Jai pur
Item No. 35
Case No. SA/96/2026
MS SHREE NATH ENTERPRI SES Vs EDEL WEI SS ASSET RECONSTRUCTI ON COMPANY LI MI TED
Dat e: 13. 03. 2026.
Pr oceedi ngs through hybri d mode
Present:
Shri Kapil Kumar Kumawat, Counsel f or the Appli cant
Shri Vi neet Shar ma & Sh. Akash Shar ma, Counsel for the Respondent Bank/FI
I n thi s matter, the appl icant has stated to trespassed the pr operty on t he pretext of some all eged fire. It is admi tted by the counsel f or the appli cant that they are taki ng care of the pr operty so, i nstead of handi ng back the pr operty to the bank they are enjoyi ng the pr operty. The aucti on whi ch the appli cant has chall enged i n thi s Securitizati on Appli cati on had resulted i n fail ure and f urther acti ons of the banks whi ch were chall enged wer e not withi n the limi t ati on. The aucti on whi ch is schedul ed today has also resulted i n fail ure.
The counsel f or the appli cant submi ts that the appli cant is ready and willi ng to settl e the matter and today itself or by tomorr ow they will deposit Rs. 10. 00 Lac with the respondent bank with settle ment pr oposal. The appli cants are at li berty to do so and if any such pr oposal is gi ven to the bank, the bank will consi der the same as per their poli cy.
There is a non-compliance of the or der of thi s Tri bunal as Rs. 10. 00 Lac or dered to be deposited withi n one week whi ch has not been deposited, theref ore, reli efs sought under the Securitizati on Appli cati on are not withi n the li mitati on.
I n vi ew of the above, thi s Securitizati on Applicati on stands di s mi ssed. Fil e be consi gned t o recor d, as per rul es. Copy of or der be upl oaded on website.
( Vi mal Gupt a)
Presi di ng Offi cer
Debts Recovery Tri bunal, Jai pur
MS Shree Nath Enterprises
Edelweiss Asset Reconstruction Company Limited
Vimal Gupta
As recorded by the court registry
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