Debts Recovery Tribunals and Appellate Tribunals
SURANA LAND DEVELOPERS PRIVATE LIMITED vs STATE BANK OF INDIA on 14 December 2020
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD
(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)
ORDER SHEET
[SBJ] (SA No.125/2019, IA No.385/2020, MA No.25/2019) Page 1 of 2
14.12.2020
Sr. No.904 & 911 SA No.125/2019 & MA No.25/2019
Classific
ation
No. of
Exh.
INTERIM APPLICATION No.385/2020
SECURITISATION APPLICATION No.125/2019
Surana Landscape Developers Pvt.
Ltd. & Others.
..Applicants
Versus
State Bank of India
..Respondent
Mr. N.K. Tungar – Advocate for the applicant.
Mr. P.S. Agrawal – Advocate for respondent-bank.
MISCELLANEOUS APPLICATION No.25/2019
Surana Landscape Developers Pvt.
Ltd. & Others.
..Applicants
Versus
State Bank of India
..Respondent
Mr. N.K. Tungar – Advocate for the applicant.
Mr. P.S. Agrawal – Advocate for respondent-bank.
Due to Covid 19 situation the matter is taken through Video Conference.
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1. It is submitted by the learned counsel appearing for the applicant that the matter has been settled and he has deposited 5% amount with the respondent-bank. A One Time Settlement is for Rs.68,53,000/- (Rupees Sixty-Eight Lacs Fifty-Three Thousand only). There is an amount of Rs.10,95,000/- being deposited by the applicant in the Debts Recovery Tribunal Aurangabad which is lying in the name of the Registrar, DRT, Aurangabad.
2. The State Bank of India has requested for release of this money to be adjusted towards the One Time Settlement amount. The applicant also requests for releasing of this money to the State IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET [SBJ] (SA No.125/2019, IA No.385/2020, MA No.25/2019) Page 2 of 2
Bank of India. The State Bank of India shall provide the details of the account including IFSC Code and name of the account to the Registry of this DRT.
3. The Registry is hereby directed to encash the FDR and remit the money to the State Bank of India to be adjusted in the One Time Settlement of the applicant in the account details provided by SBI. The amount shall be remitted alongwith interest.
4. With the consent, the I.A. No.385/2020 stands disposed-off.
5. The Registry shall remit the amount within one week of providing the details by the respondent-bank.
6. The Securitisation Application No.125/2019 alongwith Miscellaneous Application No.25/2019 stand disposed-off as it has been settled and no action as of now is pending under securitisation and if the amount has paid fully the respondent- bank shall not proceed further.
7. Consign the files to the Record Room.
The parties may download the order from the official web-site which will be treated as a true copy as due to COVID 19 & staff constraints, the certified copies cannot be issued as of now till further orders.
(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad