Debts Recovery Tribunals and Appellate Tribunals
MODINAGAR PAPER MILLS LTD vs KOTAK MAHINDRA BANK LIMITED on 4 November 2025
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R.A. No.13 of 2023
IN THE DEBTS RECOVERY TRIBUNAL, LUCKNOW
Present: Pravas Kumar Singh, Presiding Officer Review Application No.13 of 2023
Dated: 04. 1 1.2025
Anubhav Gupta & Ors.
, Applicant
Versus
Kotak Mahindra Bank Ltd & Ors.,
. . . . Respondents
Ld. Counsel for applicant: Mr. Swayambhoo Chandranshul, Advocate.
Ld. Counsel for respondent-bank : Mr. Sandeep Arora, Advocate.
Ld. Counsel for respondent no.3: Mr. Nitesh K. Tripathi, Advocate.
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JUDGMENT
1. This order is disposing Review Application filed by the applicant for review of the judgment and order dated 02.5.2023 .
2. 1 have heard Ld. Counsels for the parties.
3. The SA No.423/2021 (M/s. Modi Nagar Paper Mills and other vs. Kotak Mahindra Bank and Another was filed in which the applicants had challenged all the securitization proceeding and measures taken by the respondent-bank. Sale notice and other measures were also challenged. Sale certificate was issued on 08.12.2023 in favour of the auction purchaser and the amendment application was filed by the applicant challenging sale certificate. In the meantime, auction purchaser preferred an Appeal before the Hon’ble DRAT Allahabad and the Hon’ble DRAT Allahabad had given direction to dispose the case within three months. Some orders were also passed regarding amendment petition filed by the applicant. The case was listed in the heading time bound manner. '-\ -. / , //
R.A.No.13 of 2023
4. The written objections were filed by all the parties and the said judgment and order were passed.
5. The main ground of the applicant being that direction dated 17.01.2023 given by the Hon’ble DRAT in Appeal No.1208/2022 has not been complied by the Tribunal in totality. The applicant has also raised other collateral grounds which are not required to be discussed further for complete adjudication of the review application.
6. 1 have perused the judgment dated 02.5.2023 passed by this Tribunal where in this Tribunal had decided the case by a reasoned order, in which the grounds raised by this applicant has been properly answered and dealt with.
7. Rule 5 A of DRT Procedure Rules 1993, deals with provision of REVIEW, it reads as:
(1) Any party considering itself aggrieved by an order made by the Tribunal on account of some mistake or error apparent on the face of the record desires to obtain a review of the order made against him, may apply for a review of the order to the Tribunal which had made the order.
(2) No application for review shall be made after the expiry of a period of thirty days from the date of the order and no such application shall be entertained unless it is accompanied by an afidavit verifying the application.
(3) Where it appears to the Tribunal that there is no sufficient ground for a review, it shall reject the application but where the Tribunal is of opinion that the application for review should be granted, shall grant the same: Provided that no such application shall be granted without previous notice to the opposite party to enable him to appear and to be heard in support of the order, a review of which is applied for.”
8. Ld. Counsel for the respondents have vehemently opposes the Review Application. It is submitted that applicant has filed q\= '1J R.A.No.13 of 2023 Review Application in the guise of appeal in order to purchase a time and to waste the time of this Tribunal.
9. 1 find that even if the submission of the applicant is admitted, no ground for review as detailed in the RA is made out, accordingly, the present Review Application is dismissed being devoid of merit. Let the file be consigned to record room. (Dictated) r'\ \ (Pravas KurAr bligh) Presiding Officer Debts Recovery Tribunal Lucknow Judgment signed, sealed, dated and pronounced in the open court on this 04th Day of November, 2025. \h (Pravas Kum} Sin£h) Presiding Officer Debts Recovery Tribunal Lucknow (Veeresh)