SURANA LANDSCAPE DEVELOPERS PVT LTD vs STATE BANK OF INDIA on 7 January 2022

IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

ORDER SHEET

[SBJ] (MA No.20/2021) Page 1 of 2

07.01.2022

Sr. No.15

MA No.04/2022

Classific

ation

No. of

Exh.

MISCELLANEOUS APPLICATION No.04/2022

Surana Landscape Developers Pvt. Ltd.

..Applicant

Versus

State Bank of India

..Respondent

Mr. N.K. Tungar – Advocate for the applicant.

Mr. P.S. Agrawal – Advocate for the respondent-bank.

Due to Covid 19 situation the matter is taken through Video Conference.

1. The applicant has filed present Miscellaneous Application No.04/2022 for restoration of Securitisation Application No.45/2021 which was dismissed for non-prosecution vide order dated 9th November, 2021.

2. The counsel for the applicant submitted that the applicant has received the notice dated 10th February, 2021 of physical possession of the residential house of the applicant which was to be taken on 29th December, 2021.

3. It has been also submitted by the counsel for the applicant that the applicant was not aware of the order of this Tribunal dated 9th November, 2021 about dismissal of the Securitisation Application No.45/2021 for non-prosecution.

4. The counsel for the applicant submitted that the delay for making application for restoration of the S.A. No.45/2021 to IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

ORDER SHEET

[SBJ] (MA No.20/2021) Page 2 of 2

its original position is unintentional and not deliberate. The applicant wants to settle the loan account and as such he has deposited an amount of Rs.27,17,653/- in the loan account which was not considered by the respondent bank. The respondent bank as per the letter dated 10th February, 2021 took the physical possession of the residential house of the applicant on 29th December, 2021.

5. It is also submitted by the applicant that the officers of the respondent bank orally said that if the outstanding amount of more than Rs.1 Core deposited with the bank, then only the residential house will be released.

6. Heard the learned counsels for the applicant and the respondent-bank and in the interest of natural justice, I pass the following order through video conferencing: