PRADIP KUMAR BAGHELE vs DEEWAN HOUSING FINANCE CO LTD on 1 October 2020

DEBTS RECOVERY TRIBUNAL, JABALPUR SITTING AT CUTTACK ORDER SHEET MA No.-55 of 2020 (SA No.-688/2019) Order with the signature. Action (if any) SI. Date of No order. taken on the order. 1.10.20 Counsel for the applicant appeared through Video Conferencing. Counsel for the Respondent Bank appeared through Video Conferencing. Counsel for the applicant filed an application for extension of time for compliance of the order dated 18.12.2019 passed by this Tribunal. Counsel for the applicants in its application have submitted that after passing of the order the applicants had started the process for complying the said order and contacted the persons who is interested to purchase the ancestral property at Uttar Pradesh and the transaction was finalised and the registered sale deed was to be executed in the last week of March, 2020. Since the person who was purchasing the property was residing at Pune, Maharashtra and was not allowed to visit Uttar Pradesh and no activity was permitted to be carried out except o 2 0 2

essential/medical services. The applicants due to the said circumstances were totally paralysed and was not able to arrange the amount to be deposited with the Respondents. The person who is purchasing the property of the applicants had also extended and postponed the purchase for 5 months. Due to the aforesaid circumstances they were not able to deposit the amount as per the direction contained in the order dated 18.12.2019 and prayed this Tribunal for another six months for compliance of the said order. Counsel for the Respondent Bank vehemently opposed and contended that there is no valid ground for extension of time and submitted that in the meantime three months time is over and the applicants have not paid the amount and prayed this Tribunal to dismiss the M. 1.A. This Tribunal vide its order dated 18/12/2019 directed the applicants to deposit Rs.1.50 lakhs on or before 31.03.2020 and the i c 2 0 2 c balance overdue amount by 30.06.2020, the Respondent company shall regularise the account and not to proceed further with any action under the SARFAESI Act. Considering the submissions of both the Counsels and pandemic situation due to covid-19 applicants and taking principles of natural justice into consideration the applicants are granted three months i.e. upto 31.01.2021 to clear the total defaulted EMIS or to clear the total outstanding dues. In case the applicants clear the total outstanding dues, the Respondent Bank is directed to show lenient view while receiving the total outstanding amount. Respondent Bank is directed not to take any coercive action till 31.01.2021 and in case the applicant failed to clear the total outstanding dues or defaulted EMIs due on or before 31/10/2020, the Respondent bank is at liberty to take steps for recovery of their dues. With the aforesaid observation MA No.-55 of 2020 is disposed of. Each party shall bear their own costs. PRoi (P. Ravi Kiran) B.Com, M.L. Presiding Officer Debts Recovery Tribunal, Cuttack in charge of Debts Recovery Tribunal, Jabalpur(M.P.)