GODAVARIBEN AMRUTLAL PANCHAL vs BANK OF MAHARASHTRA on 29 February 2020

Exh-07

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CONTD. ORDER-SHEET

<table border="1"> <thead> <tr> <th data-bbox="41 94 215 115">DATE</th> <th data-bbox="215 94 770 115">DESCRIPTION OF THE ORDER</th> <th data-bbox="770 94 936 115">REMARK</th> </tr> </thead> <tbody> <tr> <td data-bbox="41 115 215 135">29.2.2020</td> <td data-bbox="215 115 770 135">APPEAL No.16/18</td> <td data-bbox="770 115 936 135"></td> </tr> <tr> <td data-bbox="41 135 215 944"> Present : </td> <td data-bbox="215 135 770 944"> <p>Ms. Sangita Athavle, Ld. Counsel for the Applicant</p> <p>Ms. Dhara Aslot, Ld. Proxy Counsel on behalf of Mr. L.M. Patel, Ld. Counsel for the Respondent bank</p> <p>Ld. Counsel for the bank has placed on record two letters dated 29.02.2020 and 21.12.2019 and submitted that on receipt of Rs.91/- lakhs, bank will release property comprised in survey No.101-C, Rajlaxmi Complex, India colony, Ahmedabad and in future will not proceed against this property on deposit of Rs.91/- lakhs by 30.03.2020.</p> <p>She further submitted that bank will give credit of Rs.9/- lakhs already deposited</p> <p>She further submitted that bank has released the property keeping in view of alleged third party interest claimed by various persons. Just to cooperate them without prejudice to the rights of the bank to recover balance amount from borrowers and guarantors and to proceed against said borrowers and guarantors and their properties in accordance with law in pending recovery certificates.</p> <p>She further submitted that this statement may be treated as statement on behalf of bank in all the miscellaneous application and appeals filed by different individual against bank qua property mentioned above.</p> <p>She further submitted that bank will release documents of title to the authorised persons of Registered Society on receipt of Rs.91/- lakhs to be paid on or before 30.03.2020 and in case of failure to make payment of the amount, bank will be able to proceed and enforce security in accordance with law as if there is no concession to the third parties.</p> <p>Ld. Counsel for the Applicants, Ms. Sangita Athavle submitted that she heard the statement made as above at Bar and third parties would make the payment and the present proceedings may be treated as withdrawn being not pressed upon such concession.</p> <p>I have heard the Ld. Counsels for the parties. As the parties have compromised out of court, so the present proceedings stood disposed of on such terms and parties would be abide by the settlement arrived out of court.</p> <p>The present matter stands disposed of being not pressed. Let copies be supplied as per rules.</p> <div data-bbox="588 802 708 845" style="background-color: #f0f0f0; width: 120px; height: 43px; margin: 10px auto;"></div> <p style="text-align: right;">(VINAY GOEL)<br/>PRESIDING OFFICER<br/>DRT-I, AHMEDABAD</p> </td> <td data-bbox="770 135 936 944"></td> </tr> </tbody> </table>