NAWAB KHAN vs ALLAHABAD BANK on 31 August 2020

DEBTS RECOVERY TRIBUNAL, JABALPUR SITTING AT CUTTACK ORDER SHEET M.A.50 0f 2020 (Arising out of S.A.IE0 of 2020) Order with the signature. Action (if SI. Date No order. of any) taken on the order. 31.8.2020 Counsel for the applicant is present through V.C. Counsel for the Respondent bank is also present. Counsel for the applicant submitted that he is ready to deposit outstanding as on this date as per the order dated 17.3.2020 and due to COVID-19 and Pandemic situation in the country he could not comply the order dated 17.3.2020. Counsel for the Respondent Bank submitted that the applicant failed to comply the order dated 17/03/2020 and one property is already sold and the Respondent Bank recovered Rs.41 Lakhs and sale certificate is already issued and physical possession also given. Counsel for the applicant submits that the applicant is ready to deposit the amount as on this date. In the above circumstances, the applicant is directed to deposit Rs.30 Lakhs within fifteen days from the date of this order i.e. on or before 15.9.2020 and Respondent bank is directed to accept the said amount and applicant is further directed to comply the direction of this Tribunal passed on 17.3.2020 and clear the entire outstanding before OD

31.12.2020 and the Respondent bank is directed to furnish details of the amount due to for the applicant and M.A.50/2020 is filed and S.A. is already amendment of S.A. disposed on 17.3.2020. Presently the S.A. is not pending and amendment petition to add the legal heirs inn a disposed of SA is not maintainable and accordingly M.A.50/2020 is dismissed. Counsel for the applicant submitted that the property is sold for lesser value and Counsel for the Respondent bank submitted that they have taken all the steps as per law for sale of the house property. In the above circumstances, both are at liberty to take steps for recovery as per law. With this observation M.A. is disposed of. (P. Ravi Kiran) B.Com, M.L Presiding Officer, Debts Recovery Tribunal, Cuttack, in-charge of Debts Recovery Tribunal, Jabalpur(M.P.)