NKGSB COOPERATIVE BANK LIMITED vs MR NANINESH V SANGHAVI HUF on 3 August 2026

03.08.2026 Exh. Roznama-MDRT-II M.A. No.18 of 2026 Next date

Mr Mohit Shamdasani, Advocates for the Applicant of this M.A. No.18 of 2026. The Respondent was already set ex-parte vide order dated 21.05.2026.

This order of mine shall dispose of the present M.A. No.18 of 2026. The Applicant i.e., the original Respondent No.1 of T.S.A No.150 of 2015 has filed the present Miscellaneous Application for seeking directions to obtain the part sale consideration kept in fixed deposit with the Applicant bank i.e., the Respondent No.1 of T.S.A. No.150 of 2015. Ld. Advocate for the Applicant submitted that the T.S.A. No.150 of 2015 was filed by the Auction purchaser which came to be allowed vide order dated 09.04.2025 with certain directions to the parties. Ld. Advocate further submitted that the sale consideration received by the Applicant/Respondent No.1 of T.S.A. No.150 of 2015 was divided into two parts i.e., an amount of Rs.70 lakhs which was returned to the Respondent with interest and an amount of Rs.40 Lakhs which was retained by the Applicant and kept in fixed deposits in the name of ‘THE REGISTRAR DRT III MUMBAI’. Ld. Advocate also submitted that after following up with the department, the said Fixed Deposits have now been transferred in the name of ‘THE REGISTRAR DRT II MUMBAI’ and the original fixed deposit receipts are in the possession of the Applicant. The Ld. Advocate for the Applicant submits that the said amount forms part of the sale consideration received by the Applicant and hence the same should be returned to the Applicant along with accrued interest and prays that the Applicant Bank be permitted to mature the said fixed deposits and retain the said amount. Heard the Ld. Advocate for the Applicant. Perused the material placed on record. The Applicant has complied with all the rst-09 directions as directed in the order dated 09.04.2025 and hence, the Applicant is entitled to the said amounts along with interest. In view of the above facts, the Miscellaneous Application No.18 of 2026 is hereby allowed. The Applicant is directed to deposit the Fixed Deposit amount along with accrued interest in the account of the REGISTRAR DRT-II, MUMBAI within 7 days from today. Upon receiving the amounts, the Ld. Registrar is directed to release the said amount to the Applicant herein. File be consigned to the Record Room after due compliance.

Sd/- P.O. DRT-II

Closed