MR GIRISHBHAI V SHRIVASTAV vs EDELWEISS ASSESTS RECONSTRUCTION COMPANY LIMITED on 29 August 2025

Exh-7

IN THE DEBTS RECOVERY TRIBUNAL-II AT AHMEDABAD (Pankaj Kumar Upadhyay, Presiding Officer)

Item No.32 MA/57/2024 in Diary No.(SA) 179/2024

29.08.2025

Mr.Girishbhai V. Shrivastav & Anr. Vs. Edelweiss Asset Reconstruction Co. Ltd.

Present:

Ms.Naziya Halwawala, Ld. Proxy Counsel for the Applicants.

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

*Disposal pursis Ex.R/06*, filed by Respondent is taken on record.

The present SA has been filed by Applicants before this Tribunal against the SARFAESI measures initiated by Respondent FI against Applicants and secured asset. However, during the pendency of above SA, dispute has been settled between the parties and Respondent has filed *disposal purshis Ex.R/06* stating therein that out of Court settlement has been arrived at between the Applicants and the Respondent FI and therefore the Respondent FI do not intend to take recourse or further measures for enforcement of the security interest under SARFAESI Act against the Applicants and hence no cause is survived to proceed further or seek any reliefs in the present Miscellaneous Application and that as no cause of action survives to the Applicant in present SA, it may be disposed of and dismissed as having become infructuous.

He further submitted that he has filed a copy of, 'No Dues Certificate' dated 14.03.2024, along with *disposal purshis Ex.R/06* .

Ld. Counsel for the Applicants has made endorsement that she has no objection if the above SA is disposed of as the above matter has been settled between the parties.

In view of the above submissions of Ld. Counsel for both the parties and contents of *disposal purshis Ex.R/06*, as no cause of action survive to the Applicants in present SA due to settlement between the parties and its payment to Respondent, the above SA deserves to be disposed of. *Hence, this case is disposed of as having become infructuous, with no order as to cost.*

Order accordingly.

File be consigned to records.

(PANKAJ KUMAR UPADHYAY) PRESIDING OFFICER DRT-II, AHMEDABAD 29.08.2025