WP/9673/2021 of M/S DP ENTERPRISES Vs GP PARSIK SAHAKARI BANK on 31 December 2021

IN THE HIGH COURT OF JUDICATURE AT BOMBAYCIVIL APPELLATE JURISDICTION

WRIT PETITION NO. 9673 OF 2021

M/s. DP Enterprises

Versus

GP Parsik Sahakari Bank

__________

Mr. Pravin Naik a/w Mr. Prafulla Gangurde for the Petitioner Mr. Kishor Patil a/w Mr. Sameer Mhatre and Mr. Amol Mhatre forthe Respondent the Respondent Ms. Nikita Amit Patel - Guarantor present through videoconferencingconferencing __________

P.C.:

CORAM : S.J. KATHAWALLA & MILIND N. JADHAV, JJ. (VACATION COURT)

DATE : DECEMBER 31, 2021.

.Heard the learned Advocates appearing for the respectiveparties. Also heard the Petitioner who is present in Court and theguarantor Ms. Nikita Amit Patel (Guarantor) who is present before usthrough video conferencing. The conversation held with Ms. NikitaAmit Patel through video conferencing is recorded by the Court afterputting her to notice of the same. Office shall ensure that therecording is preserved until further orders passed by this Court.

2. By consent of the parties, the following order is passed:-

(i) The Petitioner as well as Ms. Nikita Amit Patel admits thatas on date an amount of Rs. 17,37,203.00 is payable byas on date an amount of Rs. 17,37,203.00 is payable by them to the Respondent Bank. The Petitioner undertakesto pay the said amount along with interest accruedthereon till 28.01.2022 i.e Rs. 11,046.00 in fourinstallments;

(ii) The first installment of Rs. 5,00,000.00 shall be paid on orbefore 07.01.2022. The second and third installments ofRs. 5,00,000.00 each shall be paid on or before14.01.2022 and 21.01.2022 respectively. The fourthinstallment of Rs. 2,48,249.00 shall be paid on or before28.01.2022;before 07.01.2022. The second and third installments ofRs. 5,00,000.00 each shall be paid on or before14.01.2022 and 21.01.2022 respectively. The fourthinstallment of Rs. 2,48,249.00 shall be paid on or before28.01.2022;

(iii) The Petitioner undertakes not to seek any extension oftime under any circumstances for making the abovepayments; time under any circumstances for making the abovepayments;

(iv) If the Petitioner commits default in making the paymentwith regard to any of the installment, the RespondentBank shall forthwith attach the flat owned by Ms. NikitaAmit Patel being Flat No. 212, 2nd Floor, SumanApartment, Near Kamla Park, Laxmi Narayan MandirRoad, Palghar and sell the same through public auction;with regard to any of the installment, the RespondentBank shall forthwith attach the flat owned by Ms. NikitaAmit Patel being Flat No. 212, 2nd Floor, SumanApartment, Near Kamla Park, Laxmi Narayan MandirRoad, Palghar and sell the same through public auction;

(v) In the event of the flat being sold through public auctionand if there is any surplus amount received, the sameshall be handed over to the guarantor Ms. Nikita AmitPatel; if the Respondent Bank is unable to recover fromand if there is any surplus amount received, the sameshall be handed over to the guarantor Ms. Nikita AmitPatel; if the Respondent Bank is unable to recover from the sale of flat, the amount due and payable by thePetitioner / Guarantor which is crystallized herein above,the Bank shall be at liberty to take appropriate stepsagainst the Petitioner and the guarantor to recover thebalance amount;

(vi) The Petitioner and the Guarantor undertake that theyhave not and until all the aforestated installments arepaid, will not sell, alienate, part with possession or createthird party rights in respect of the said Flat No. 212without seeking permission of this Court; have not and until all the aforestated installments arepaid, will not sell, alienate, part with possession or createthird party rights in respect of the said Flat No. 212without seeking permission of this Court;

Conclusion

(vii) In view of this order, the proceedings before the DebtRecovery Tribunal shall be forthwith withdrawn by thePetitioner.Recovery Tribunal shall be forthwith withdrawn by thePetitioner.

3. The Writ Petition is accordingly disposed of.

[ MILIND N. JADHAV, J. ]

Digitally signedby RAVINDRARAVINDRAMOHANAMBERKARMOHANDate:AMBERKAR2022.01.0410:50:21+0530

[ S.J. KATHAWALLA, J. ]