Late Saraschandra And Saradchandra B Sharma vs THE KALUPUR COMMERCIAL CO OP BANK LTD on 4 April 2026

**ORDER**

1. 1. Ld. Counsel for the Respondent has filed his Vakalatnama vide Ex.R/6, let it be kept on record. He has further filed a Purshis vide Ex.R/5 with list of documents, let it also be kept on record.

2. 2. Ld. Counsel for the Applicants has submitted that this MA has been filed as Mercy Petition by the Applicants. The SA No.546/2024 filed by the Applicants was disposed of by this Tribunal vide order dated 12/12/2025, granting permission to the Applicants to pay the entire settlement dues in the phased manner from 14 August, 2025 to 28 February, 2026 in 08 instalments. However, due to financial difficulties the Applicants were not able to pay the 3^rd instalment within time. Accordingly, the condition no.3 of that order was not complied by the Bank as per the conditions of the above order. The Applicants have subsequently paid instalment nos.01 to 06 of that order, however, not as per scheduled but in the delayed manner. The Applicants have requested that they are ready and willing to pay remaining 02 instalments on or before 30/04/2026 along with 2Diary No.747 of 2026

Rs.1,62,000/- as delayed interest and further expenses. On these grounds it has been prayed by the Applicants that the Respondent Bank may be restrained from taking possession of the secured assets as scheduled on 05/04/2026 and the Applicants may be given time to pay the entire settled dues. These facts have been mentioned in Ex.A/7.

1. 3. Ld. Counsel for the Respondent has made following endorsement on the Purshis / Undertaking Exh.A/7 filed by the Applicant:

*"The Applicants are required to deposit Rs.5,00,000/- today and remaining amount + Rs.1,62,000/- on or before 15/04/2026. In case of default Applicants have to hand over peaceful and vacant possession immediately."*

1. 4. At the outset this Tribunal makes it very very clear that with regard to settlement process, this Tribunal has no authority to intervene the commercial wisdom of the Bank and this order is passed with the consent of the parties and the consent of the Bank officer who is present today, subject to conditions of the Bank, mentioned in the comments of Ld. Counsel for the Respondent Bank.

2. 5. Without making any further comments and only granting 4 more extra days to the Applicants. This Purshis is decided in following manner:

ORDER

- ➤ The Applicants are directed to pay the Respondent Bank a sum of Rs.5,00,000/- today itself i.e., 04/04/2026.

- ➤ The Applicants are further directed to pay the remaining settled dues with the Respondent Bank as mentioned in column 7 & 8 of Para 2 of the order dated 12/12/2025 passed in SA No.546/2024. Positively within 15 days from today along with Rs.1,62,000/- as delayed interest and other legal charges and further expenses.

- ➤ To facilitate the Applicants in complying the conditions of the order, the Respondent Bank shall defer taking any coercive action under SARFAESI Act. **However, in case of single default committed by the Applicants in payment of settled**

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dues, and extra charges as mentioned above, the Applicants will hand over peaceful possession of secured asset to the Respondent failing which the Respondent shall be at liberty to proceed further in accordance with law.

- ➤ With the above directions, the present MA stands disposed of with no order as to cost.

- ➤ File be consigned to record.

4.4.2026

**(Pankaj Kumar Upadhyay)** **Presiding Officer** **DRT-II, Ahmedabad**

Saloni