VINOD KUSHWAHA vs CAN FIN HOMES LIMITED on 5 August 2021

IN THE DEBTS RECOVERY TRIBUNAL LUCKNOW Present: A. H. Khan, Presiding Officer Dated of order 05.8.2021 In M.A. No. 05 of 2021 SI. No.02 (Jabalpur) Present: Ld. Counsel for the applicant Ld. Counsel for the respondent bank Mr. M.K. Shahi None Counsel for the applicant stated that due to Covid-19 the applicant could not complied the order of this Tribunal in its entirety. He seeks time extension upto Dec. 2021 for compliance of order. I have heard the counsel for the applicant and gone through the order passed by this Tribunal. The applicant in the S.A. No. 116 of 2020 vide order dt. 13.3.2020 directed to deposit Rs. 1.50 lacs on or before 31.3.2020 and to clear the entire dues on or before 31.12.2021 along with contractual interest. The applicant was also directed to deposit minimum amount of Rs. 1.25 lacs every month w.e.f. April 2020. From the application it is reflected that applicant had deposited some amount after passing of the order dt. 31.3.2020. After giving my thoughtful consideration on the issue I am of the considered opinion that due to Covid-19 Pandemic situation in this country there are financial cripple and the date of last repayment is 31.12.2021, thus keeping in mind that the applicant is still ready and willing to repay the dues of the bank within the time granted vide order dt. 13.3.2020, the order dt. 13.3.2020 is modified to the extent that applicant is directed to deposit minimum Rs. 2.00 lacs every month instead of Rs. 1.25 lacs and shall clear the entire outstanding by 31.12.2021. The applicant will deposit first instalment by 10.8.2021 to show his bonafide, in case applicant complied with the orders of this Tribunal, the interim protection granted by this Tribunal shall continue. In the event of first instalment by 10.8.2021, the interim protection shall automatically vacated and the bank will be at liberty to proceed further. With the above observation, the misc. application is disposed of finally. Let the file be consigned to record. The above proceedings are made by virtual hearing through video conferencing in presence of counsel for the applicant and Ld. Registrar of NRT Jabalpur (A. H. Khan) Presiding Officer Addl. Charge, DRT Jabalpur