Debts Recovery Tribunals and Appellate Tribunals
SHRI JAI BHAWANI AND ANOTHER vs DEWAN HOUSING FINANCE LTD on 13 February 2020
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CONTD. ORDER-SHEET
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<table border="1"><thead><tr><th data-bbox="100 110 185 125">DATE</th><th data-bbox="190 110 725 125">DESCRIPTION OF THE ORDER</th><th data-bbox="730 110 940 125">REMARK</th></tr></thead><tbody><tr><td data-bbox="90 135 185 165">MA 11/20<br/>13/02/20</td><td data-bbox="190 135 725 870"><p>Pr: Shri.Nasir Ahmed, Adv. for the Applicant.<br/>Shri.Vivek Shukla, Adv. for the Res.bank.</p><p>The present MA has been filed on 18-01-20 seeking modification of order dtd.29-11-19 passed in SA 641/19.</p><p>Counsel for the applicant submits that in compliance of directions of this Tribunal, he has deposited the requisite amount till Dec'19. He further submits that he is seeking relaxation in making payment as directed in the month of Jan'20, Feb and Mar'20. It is submitted that the applicants shall receive their dues from the market from Apr'20 and they shall make the payment as per the schedule described in Para 3 of the MA. Counsel for the applicant pleads for modifying the order as the applicants are in deep financial stress and have all the intentions to clear the entire outstanding of the bank.</p><p>Duly considered submissions. In the interest of justice, the order dtd.29-11-19 passed in SA 641/19 is modified to the extent of amounts due to be paid in the month of Jan'20, Feb'20 and Mar'20 and it is hereby directed that the applicants shall pay a minimum amount of Rs.05 Lacs on or before 30-04-2020, a minimum amount of Rs.05 Lacs before the end of every month and clear the entire outstanding on or before 30-09-2020. The present MA is allowed subject to deposit of cost of Rs.51,000/- in the Bharat Ke Veer Fund within three days.</p><p>With these directions, the present MA stands finally disposed of.</p><p>Record be consigned to Record Room.</p><p style="text-align: right;"><i>Sd/-</i><br/>(<del>Brajesh K. Sinha</del>)<br/>Presiding Officer</p></td><td data-bbox="730 135 940 870"></td></tr></tbody></table>