Debts Recovery Tribunals and Appellate Tribunals
MAHENDRABHAI ZAVERBHAI PATEL AND ORS vs LIC HOUSING FINANCE Ltd on 2 November 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: 02/11/2026: -
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1. Present as under:
Mr. Gaurang Kinkhabwala, i/b Ms. Kanjani Trivedi, Counsel for Appellants. Mr. Atul Gupta, i/b Mr. Archit Virmani, Counsel for the Respondent.
2. The Learned Counsel for the Appellant seeks adjournment on the ground that there is a possibility of a settlement between the parties.
3. The said request is vehemently opposed by the Learned Counsel for the Respondent. He would further submit that no such negotiations are going on between the parties; that, even on the previous date, the Appellants had sought an adjournment on the same ground; that, if the OTS proposal submitted by the Appellants is for an amount of ₹20 lakhs, it is inexplicable as to why the Appellants are
unable to deposit approximately ₹17 lakhs as directed under the impugned order.
4. In the interest of justice, the request for adjournment is granted to the Appellants subject to payment of costs of ₹5,000/- to the Prime Minister National Relief Fund to be deposited within one week from today.
5. List the case on 28.01.2027 for further proceedings. Sd/- Chairperson 02.11.2026 Psa-13