Debts Recovery Tribunals and Appellate Tribunals
Shri Mehul Parsottam Soni vs EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED on 30 June 2025
*Ch. 07*
30-06-2025
MA/44/2025
Present :
Mr. Mohit Gupta, Ld. Counsel for the Applicant.
Mr. Keshav Chopra, Ld. Proxy Counsel for the Respondent FI.
In this case, it is stated by the Applicant that the only dispute between the parties is that as per One Time Settlement proposal as accepted by the Respondent FI, the Applicant was to deposit the total amount as agreed by the One Time Settlement proposal which was to be deposited by the Applicant in instalments, with regard to one loan account in the following manner :
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1. 1. First payment of Rs.4.00 Lakhs on 30-04-2025
2. 2. Second payment of Rs.37,653/- on 30-05-2025
It is claimed by the Ld. Counsel for the Applicant that this total amount of Rs.4,37,653/- has been deposited by the Applicant well within time.
Out of the second loan, the deposits were to be made in the following manner:
1. 1. First payment of Rs.6.00 Lakhs till 30-04-2025
2. 2. Second payment of Rs.6.00 Lakhs till 30-05-2025
3. 3. Third payment of Rs.6,72,347/00 till 30-06-2025
As per the Ld. Counsel for the Applicant, out of these amounts, Rs.6.00 Lakhs was deposited well within time i.e. April 2025. As far as Rs.6.00 Lakhs which was to be deposited on 30-05-2025, the Applicant was able to deposit only Rs.2.00 Lakhs, well within time and rest of the amount has not been deposited in time but the third instalment which is due today i.e. **30-06-2025**, the Applicant is ready and willing to pay the entire amount of **Rs.6,72,347/-+ Rs.4.00 Lakhs i.e. Total Rs.10,72,347/-** for which a **Cheque No: 083599 dated 30-06-2025 of State bank of India**, a copy of which has been filed with Purshish Exh.A/6 on the file of this MA. The Ld. Counsel for the Applicant has submitted that the Respondent FI may be directed to accept this cheque to resolve the dispute between the parties permanently.
In the interest of justice and for curtailment of litigation between the parties, it appears just to this Tribunal to direct the Respondent FI to accept the payment of Rs.10,72,347/- through above mentioned cheque today towards the dues of the Bank and on deposit of the cheque in the loan account, needful be done by the Respondent FI.
It is made clear that if this cheque is not honoured on being deposited for withdrawal of amount, the Applicant will have no right to pursue this case and they will be considered to have waived their right in this regard and the Respondent FI will have all right to proceed in accordance with law.
With these observations, let this file be disposed and consigned to record. Accordingly, Diary No: 1148/2025 is also disposed of with no order as to cost.
(PANKAJ KUMAR UPADHYAY) PRESIDING OFFICER, DRT-II, AHMEDABAD.
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