Debts Recovery Tribunals and Appellate Tribunals
MAHENDRABHAI ZAVERBHAI PATEL AND ORS vs LIC HOUSING FINANCE Ltd on 10 August 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 512/2025 (Stay)
In
Misc. Appeal No. 129/2025
Between
Mahendrabhai Zaverbhai Patel & Ors.
… Appellant/s
V/s.
LIC Housing Finance Ltd.
…Respondent/s
-: Order dated: 10/08/2026: -
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
1. Present: Mr. Gaurang Kinkhabwala i/b Kanjani Trivedi, Counsel for Appellants. An Advocate for the Respondent is present.
2. The Counsel for the Appellants would submit that he has given one time settlement to the Respondent/Bank ( duly authenticated copy which is tendered today and the same is taken on record ) ; whereby an offer of Rs. 20,00,000/- is made to the Respondent Bank as one time settlement.
3. The Learned Counsel for the Respondent Bank vehemently opposes the submission on the ground that he has no instructions in respect of the OTS proposal. He further submits that the amount claimed in the demand notice dated 05.01.2023 was Rs. 35,93,573.03/- , whereas the Appellants have now made an offer of only Rs. 20,00,000/- under the proposed OTS.
He would also further submit that this appeal is also misconceived for the reason that the appeal was purportedly on the grounds that interim relief has not been granted whereas in the impugned order dated 08.01.2025 the restrained order against the dispossession has been given.
4. At this stage, the Learned Counsel for the Appellant seeks adjournment to seek instructions.
List the matter on 03.11.2026 for hearing. Sd/- Chairperson VKC-15