Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S MODERN SEEDS on 23 March 2026
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
RA/11/2025 IN SA/7/2025 STATE BANK OF INDIA Vs M/S MODERN SEEDS
23.03.2026 Item No.138
Present: Ms. Sonal Chhabra, Counsel for the Applicant SBI/Bank. Mr. S.S. Chaudhary, Counsel for M/s Modern Seeds along with Mr. Harnek Singh/in person.
Heard on the Review Application for review of the order dated 10.07.2025. Vide order dated 10.07.2025 in SA No.7 of 2025 the following order was passed: - Possession of the secured asset is fixed up for tomorrow i.e. 11.07.2025. It is stated that a sum of Rs.22.00 Lacs (approximately) is due. Counsel for the applicant has today handed over three drafts totaling Rs.5.00 Lacs to counsel for the bank. Counsel for the applicant states that applicant would make the remaining sum due within five months by making payment in installments. The payment would be made on 10th of every month. In case, applicant fails to make the payment of any installment in time, bank would be free to take the possession. In view of this, SA stands disposed of.
On 04.08.2025, the present RA was filed on the ground that in the order dated 10.07.2025 the amount has been wrongly mentioned as Rs.22.00 lacs instead of Rs.34.00 lacs. Counsel for the bank states that in the order dated 10.07.2025 it has not been mentioned that the interest is also due.
I have perused the order dated 10.07.2025 wherein it is specifically mentioned that around Rs.22.00 lacs is the total amount due. I am of the considered view, that no ground is made out to review the order dated 10.07.2025. Accordingly, the RA is hereby dismissed.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
PANKAJ