Debts Recovery Tribunals and Appellate Tribunals
PHOENIX ARC PRIVATE LIMITED vs M/s Shailesh Ceramics on 26 October 2020
IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI
(BEFORE HON’BLE PRESIDING OFFICER)
(THROUGH VIDEO CONFERENCE)
ORDER SHEET
Sr. No.907
Classifi
cation
No.
of
Exh.
INTERLOCUTORY APPLICATION No.431 of 2020
In
ORIGINAL APPLICATION NO.1786 of 2016
Phoenix ARC Pvt. Ltd.
… Applicant.
Versus
M/s. Shailesh Ceramics & Ors.
… Defendants.
Mr Manaswi Agrawal i/b. M/s. Meraki Chambers –
Advocates for the applicant.
None for defendants.
Shri Deepak M. Thakkar
Presiding Officer,
26th October, 2020.
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ORDER
1. The applicant seeks leave of this Tribunal to withdraw the Original Application.
2. It is the case of the applicant that on 13 th July 2015 Hon’ble Bombay High Court passed order permitting the applicant to sale the mortgaged property. Accordingly, the applicant sold the mortgaged property for Rs.3.50 crores. The mortgaged property is common in the present Original Application and as well as in Original Application No.1781 of 2016.
3. It is further stated that the applicant is not aware of any other assets. The applicant is not likely to require any further amount from the defendants. The applicant does not intend to incur any further legal expenses. The applicant therefore seeks leave of this Tribunal to withdraw the Original Application.
4. I am convinced by the facts placed on record by the applicant.
5. In view of the above, I pass following order:
6. Interlocutory Application No.431 of 2020 is allowed with cost made easy.
Sd/- (Deepak M. Thakkar) Presiding Officer, D.R.T.No.2, Mumbai Dhawale