Debts Recovery Tribunals and Appellate Tribunals
M/s. Vishwa Polytech Private Limited vs BANK OF MAHARASHTRA on 22 February 2024
**Before Arun Kumar Singal, Presiding Officer DRT-III, Vashi, Navi Mumbai Miscellaneous Application No. 10 of 2024**
Instituted on : 24.11.2023
Decided on : 22.02.2024
**M/s. Vishwa Polytech Private Limited,**
Is a company incorporated under the provisions of the Companies Act, 1956 having its registered address at 192, A-1, Bhygaon, Tal. Malegaon, District Nashik 432 105.
...APPLICANT
V/s.
**Bank of Maharashtra,**
A body Corporate Constituted under Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at 'Lokmangal', 1501, Shivaji Nagar, Pune 411 005 and having its Nashik City Branch at 'Janmangal', Tilak Path, Nashik City 422 001.
...RESPONDENT
**Argued-By**
Advocate Mr. Riyush Jain for the Applicant through VC.
Advocate Mr. G.A. Kshirsagar for the Respondent Bank.
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**ORDER**
1. 1. This order of mine shall dispose of the present Miscellaneous Application for restoration the Securitisation Application No.391 of 2023.
*Arun* 22.02.2024
2. According to the Applicant, the Securitisation Application No.391 of 2023 was dismissed for non-appearance of the Applicant on 02.11.2023. According to the Applicant, on 02.11.2023, the concerned associate advocate was held up for a matter before the Additional Metropolitan Magistrate, Andheri Court and requested a proxy counsel to appear in the matter with instructions to either request the Hon'ble Tribunal to keep the matter back or seek an adjournment, depending on the convenience of the Hon'ble Tribunal. However, the proxy counsel was held up before the Ld. Registrar when the matter was called out at the first instance but unfortunately by that time the present matter was already called out and kept back. When the proxy counsel enquired about the matter from a fellow advocate, she was informed that the matter was dismissed. Had the proxy counsel given proper information, she would have waited for the matter to be called out in the second session. Therefore the Applicant prayed for recall of the impugned order dt.02.11.2023 and to restore the Securitisation Application No.391 of 2023.
3. After hearing the counsel for both the parties, this Tribunal finds that before dismissal of S.A. No.391 of 2023, none had appeared before this Tribunal on 02.11.2023. The reason put
Abhinav 22.02.2024
forth by the Applicant is sufficient to restore the Securitisation Application No.391 of 2023. The counsel for the Respondent Bank has also no objection to allow the present M.A. for restoration of S.A. No.391 of 2023 subject to heavy cost upon the Applicant.
4. In view of the non-objection of the Respondent Bank and also in the interest of justice, the present Miscellaneous Application No.10 of 2024 is hereby allowed subject to payment of Rs.8000/- as cost to be paid to the Respondent Bank and consequent thereto, the Securitisation Application No.391 of 2023 is hereby restored to its original number and the same be listed on 17.10.2024 for the purpose already fixed.
5. Nothing expressed herein above shall be deemed to be any expression of the merits of this case.
Arun Kumar
(ARUN KUMAR SINGAL) PRESIDING OFFICER DRT-III, VASHI, NAVI MUMBAI
Typed By - S S Dhavale, PS