Debts Recovery Tribunals and Appellate Tribunals
TANISHA AGENCIES vs BANK OF BARODA on 3 March 2020
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CONTD. ORDER-SHEET
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<table border="1"><thead><tr><th data-bbox="100 130 188 148">DATE</th><th data-bbox="190 130 720 148">DESCRIPTION OF THE ORDER</th><th data-bbox="722 130 935 148">REMARK</th></tr></thead><tbody><tr><td data-bbox="100 150 188 188">MA 14/20<br/>03/03/20</td><td data-bbox="190 150 720 890"><p>Pr: Shri.Nasir Ahmed, Adv. for the Applicant.<br/>Shri.Ashish Dixit, Adv. for the Res.bank.</p><p>The present MA has been filed on 24-01-20 seeking modification of order dtd.30-10-19 passed in SA 570/19.</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 2 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>Counsel for the bank vehemently opposes the delaying tactics of the applicant and submits that they are in the habit of filing MA for extension of time repeatedly and shall keep on taking time on one ground or the other. Counsel for the applicant undertakes that he shall not file any further application for extension of time and shall clear the entire dues within the time prescribed.</p><p>Duly considered submissions. In the interest of justice, the order dtd.30-10-19 passed in SA 570/19 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.52,000/- 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><div style="text-align: right;"><br/>(Brajesh K. Sinha)<br/>Presiding Officer</div></td><td data-bbox="722 150 935 890"></td></tr></tbody></table>