Debts Recovery Tribunals and Appellate Tribunals
BANK OF INDIA vs M S BROWN PAPERS TECHNOLOGIES on 10 May 2025
BEFORE NATIONAL LOK ADALAT HELD ON 10/05/2025
SETTLEMENT OF CASES PENDING IN
DEBTS RECOVERY TRIBUNAL-2, MUMBAI
AT MTNL BHAVAN 3RD FLOOR, COLABA, MUMBAI – 400 005
Reference: Office Order No.28/2025 dated 08/05/2025
Office of the District Legal, Services Authority, Mumbai 10.05.2025
Sr. No.04
TOA No.1291 of 2016
classifi
-cation
No. of
Exh.
Bank of India
Vs.
M S Brown Papers Technologies
Mr O.A. Das, Ms Dhanshree Wakchaure and Ms Akansha Sarpole – Advocates for the Applicant.
Mr Komal Singh and Mr Rajkumar – Officers of the Applicant Bank.
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1. Today, the matter was placed before the Lok Adalat. On perusal of records, it was noticed that the final settlement sanction of ZLCC was not filed by the Applicant Bank and the Company Defendant has submitted their Application in an NCLT which is not yet admitted.
2. Mr Vinayak Padave appeared and claimed to be a director of Defendant Company in the present matter and has submitted that they have filed Application before the Hon’ble NCLT. However, the same is lying for removal of the defects that could not be done till today.
3. The learned advocate for the Applicant has not identified the aforesaid Director of the Company to be a party in person.
4. The Applicant Bank seeks time to file the present status of application filed before the Hon’ble NCLT and also to file the duly singed Note of ARMB Branch to ZLCC recommending OTS of Rs.85 lakhs having signed by all the requisite members.
5. The Applicant Bank also seek time to file settlement sanction of ZLCC. The learned advocate for the Applicant requested to keep this matter in the regular course. Request accepted
6. List the matter in the regular course.
Sd/- Sd/- Sd/- (Vilas N. Kane) (Bhavishya Kumar Azad) (Harish Kumar Kaushik) Signature of Signature of Signature of Panel Member Panel Member Judicial Officer 10-05-2025 10-05-2025 (Head of the Panel) DRT-2, Mumbai 10-05-2025 Radhika