MS TULSI TRADING AND OTHERS vs HINDUJA HOUSING FINANCE LIMITED on 28 May 2025

28-05-2025

MA/27/2025

Present :

Ms. Nazia Halwawala, Ld. Proxy Counsel for the Applicant.

Mr. Keshav Chopra, Ld. Proxy Counsel for the Respondent.

Exh.A/5 Service Purshish is filed by the Applicant claiming therein that the notice of the MA has been duly served on the Respondent. The Ld. Counsel for the Respondent has also accepted this claim and filed his Memo of Appearance through Purshish Exh.R/6.

The Ld. Counsel for the Applicant has moved this Miscellaneous Application with a prayer to condone the delay of 34 days for filing the draft securitization application. In this regard, it is submitted that the delay occurred because when the Applicant came to know about the securitization proceedings, it took some time to obtain the documents and to consult with Lawyer and hence delay has occurred. It is prayed that the delay may be condoned and this SA may be permitted to be circulated for admission.

It is further requested that after filing the draft amendment, the Respondent has fixed the date for auction of the secured assets on 12-06-2025. In view of this subsequent developments, technically this SA is no more delayed SA. On these grounds, it is requested that the delay may be condoned.

The Ld. Counsel for the Respondent has submitted that the request for delay appears to be convincing and there is no objection, if the delay is condoned.

The objective of justice is to dispose the issues between the parties after giving them proper opportunity to be heard and denying the opportunity to be heard never serves the purpose of justice. In these circumstances, in view of this Tribunal, the MA No: 27/2025 deserves to be allowed :