Debts Recovery Tribunals and Appellate Tribunals
Narayan Pedasubbaiah Chintham and Smt Sunita Narayan Chintham vs KOTAK MAHINDRA BANK LIMITED on 1 July 2022
Presented on:
01.04.2022
Registered on:
01.04.2022
Decided on:
01.07.2022
Duration:
Y M D
- 3 -
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE
(Before Shri Dilip G Murumkar, Presiding Officer)
MISCELLANEOUS APPLICATION No.22/2022
1.
Mr.
Narayan
Pedasubbaiah
Chintham
Adult, Indian Inhabitant
2.
Smt. Sunita Narayan Chintham
Adult, Indian Inhabitant
Both are residing at Survey
No.72/19/1,
Lane
No.5,
Shravasti Nagar at Ghorpadi
Gaon, Pune – 411 001.
… Applicants
Versus
Kotak Mahindra Bank Ltd.,
A Body Corporate constituted
under the Banking Companies
(Acquisition and Transfer of
Undertakings) Act, 1970 having
its
office
at
Zone-2
Nyati
Unitree, 4th Floor, Yerwada,
Pune Nagar Highway, Pune –
411 006.
...Opponent
APPEARANCES
For the Applicants
Mr. Vaibhav Ugle - Advocate
For Opponent
Mr. Ramesh B Ganbote - Advocate
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ORDER
(Delivered on 1st July, 2022)
1. By this application the applicants have claimed to condone the delay of 193 days in filing Securitisation Application on the ground that the opponent bank took physical possession of the suit property on 27th January, 2022 and the said action of opponent bank was challenged by filing Writ Petition in Hon’ble Bombay High Court which has been disposed of now.
2. The opponent bank by filing reply (Exhibit-7) resisted the application.
3. Heard arguments of both the parties.
4. It is to be noted that admittedly possession of suit property was taken by opponent bank on 27th January, 2022.
5. Perused the record. The action of taking possession of suit property by opponent bank was challenged by the applicants herein by filing Writ Petition No.1478/2022 before the Hon’ble Bombay High Court which has been disposed of by Order dated 16th February, 2022 with liberty granted to the applicants to challenge this action of bank before this Tribunal.
6. This Securitisation Application and delay condonation application has been presented on 1st April, 2022. It is to be noted that Hon’ble Bombay High Court has passed Order on 16th February, 2022 and the present application is filed on 1st April, 2022. Thus, there is delay of about 06 weeks.
7. At this juncture, it is to be noted that while dealing with an application for delay condonation liberal view should have to be taken. If delay is condoned, the bank will get an opportunity to contest the Securitisation Application. Therefore, I am of the opinion that grounds for delay in filing Securitisation Application mentioned in this application are suffice to condone to the delay. Therefore, application deserves to be allowed.
8. Hence, I pass the following order:
ORDER
(A) Miscellaneous Application No.22/2022 is allowed.
(B) Delay is condoned subject to costs of Rs.500/- (Rupees Five Hundred only) to be paid to Prime Minister Relief Fund, within a week (C) After deposit of costs, Securitisation Application be registered as per rules.
Pronounced in open Court
Place : Pune Date : 01.07.2022
Sd/- (Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune