Debts Recovery Tribunals and Appellate Tribunals
INDIAN BANK vs M/s A.K Favricatiors & Ors. on 9 July 2021
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Court of the Presiding Officer Debts Recovery Tribunal-I, Chandigarh
Item No. 50 M.A. No. 36/2021 (in OA No. 3319/2017) INDIAN BANK Vs M/S A.K FAVRICATIORS & ORS. Date: 09.07.2021 Present Sh. Sumit Batra, Counsel for the Applicant Bank Heard arguments through video conferencing at DRT, Jaipur This Miscellaneous Application is filed by the applicant bank with a prayer to substitution of name of the applicant as they have assigned the loan to Reliance Assets Reconstruction Company Ltd. Alongwith this MA certificate of registration of RBI at Annexure A/1, power of attorney at Annexure A/2 and assessment agreement is at Annexure A/3 alongwith amended memo of parties is filed on record. Ld. Counsel for the applicant prayed that as the applicant bank has assigned this loan to Reliance Assets Reconstruction Company Ltd. therefore assignee be allowed to continue with the proceedings of this OA and accordingly he prayed to take on record the amended cause title. Heard arguments. Considering the prayer made in this Miscellaneous Application and considering the fact that the loan has been assigned to Reliance Assets Reconstruction Company Ltd. therefore assessment agreement dated 23.06.2017. Prayer is allowed. Amended memo of parties is allowed to be taken on record. With these observations MA stands disposed off. Amended cause title be placed on record in OA no. 3319/2017. Put up before Registrar for compliance.
(VIVEK SAXENA) Presiding Officer DRT, Jaipur (Add. charge DRT-I, Chandigarh)