Zala Sahdevsinh Pravinsinh vs RAJKOT NAGRIK SAHAKARI BANK LIMITED on 28 October 2026

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<table border="1"><tr><td data-bbox="244 98 393 141"><b>28.10.2026</b></td><td data-bbox="393 98 875 141"><b>MA/ 54 /2026</b></td></tr><tr><td data-bbox="244 141 393 922"><b>PRESENT</b></td><td data-bbox="393 141 875 922"><p>Mr. Nigam Soni, Id. counsel for applicant<br/>Mr. J.R. Shah, Id. counsel for respondent bank<br/>(on virtual mode)</p><p>Ld. counsel for the applicant has filed memo of appearance today and Id. counsel for the respondent has put his appearance and submitted that he will be filing his memo of appearance during the course of the day. Since the sole respondent in this case has appeared through counsel there appears no need to issue notice to the respondent anymore.</p><p>Ld. counsel for the applicant has filed purshis – Ex. A/5 stating therein that in this case the respondent bank has proceeded to take physical possession of the secured assets of the applicant on 01.11.2026 and has further submitted that in this regard the applicant has moved SA No. 462/2026 which was finally disposed of by this Tribunal vide order dated 22.09.2026 and that order was based on purshis cum undertaking – Ex. A/7 filed by the applicant and the applicant was given a schedule of four months to deposit the entire outstanding in four equal monthly instalments on 30^th of every month of September, October, November and December 2026.</p><p>Nair/1</p><p>It has been further submitted by Id. counsel for the applicant that on that date only four months clear time to clear the entire outstanding dues of Rs. 12.74 lacs was given at the request of the</p></td></tr></table>

applicant and although that request was not accepted by the respondent, this Tribunal had directed the applicant to clear the entire dues by way of four equally monthly instalments. It has been further submitted that in the order under reference waiver clause and single default clause were also added although no consent for that waiver clause was mentioned in this purshis. By this purshis - Ex. A/5 a request has been made by the applicants to permit them to deposit with the respondent bank a sum of Rs. 1.25 lacs before the date of possession and remaining entire outstanding in three months from today. It has also been submitted that the respondent bank may be restrained from taking possession of the secured assets of the applicants as scheduled on 01.11.2026.

Ld. counsel for the respondent on the other hand has strongly opposed the proposal of the applicant and submitted that since the applicant has miserably failed to comply with the order of this Tribunal dated 22.09.2026 the single default clause and waiver clause has come into play and, therefore, the applicant is not entitled for any equitable relief. Contention raised by the applicant that the single default clause and waiver clause have been imposed by this Tribunal without consent of the applicant is not justifiable because the applicant has come forward to deposit the total outstanding in a phased manner and accordingly for the guarantee of equitable relief waiver clause was imposed. He has further submitted that application of the applicant is beyond the waiver clause imposed and it should not be entertained and it should be rejected at admission alone.

A ,

Heard both the ld. counsels and perused the records. It is very much clear that the applicants have miserably failed to comply with the order passed by this Tribunal on 22.09.2026. While it is settled law that if the borrower is being permitted to settle the loan account on certain conditions then it is presumed that the applicants have waived all their rights and that is why waiver clause was incorporated in order dated 22.09.2026.

Under these circumstances this Tribunal do not find any reason to entertain this MA of the applicant because the applicants have clearly violated all the terms and conditions stipulated by this Tribunal while deciding SA No. 462/2026 finally.

Accordingly, since the MA filed by the applicant has no merit, it is being dismissed at the stage of admission alone.

Let the records be consigned.

**(PANKAJ KUMAR UPADHYAY)** **PRESIDING OFFICER,** **DRT-II, AHMEDABAD.** **28.10.2026**