Debts Recovery Tribunals and Appellate Tribunals
SHRI Raghunath Maruti Kadam AND 2 ORS vs KOTAK MAHINDRA BANK LIMITED on 2 November 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 644/2026
In
Regular Appeal No. 03/2026
Between
Raghunath Maruti Kadam & Ors.
… Appellant/s
V/s.
The Kotak Mahindra Bank Ltd. & Ors.
…Respondent/s
-: Order dated: 02/11/2026: -
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1. Present as under:
Ms. Preeti Barde, Counsel for Appellants. Ms. Medha Rane along with Mr. Prafull Chipte, i/b M/s. M & S Legal Ventures, Counsel for Respondent No.1/Bank. Ms. Riya Pawar, Counsel for Respondent No. 4 (a) & 4 (c).
2. Heard on I.A. (Diary) No. 1544/2026 for brining the legal heir of Respondent No.2 on record.
3. The Learned Counsel for the Appellant would submit that Respondent No. 2 has expired, therefore, his legal heir as mentioned in the Schedule-A to the application is required to be brought on record; that, pursuant to the order dated 23.10.2026 notice was issued to the proposed legal heir of Respondent No. 2 by registered speed post and the same has been duly delivered.
4. The Learned Counsel for Respondent No. 1/Bank would submit that she has no objection to the application being allowed.
5. Accordingly, I.A. (Diary) No. 1544/2026 is allowed. The Appellant is directed to file the amended memo of parties before the next date of hearing.
6. Heard on I.A. No. 644/2026.
7. The Learned Counsel for the Appellant would submit that the I.A. No. 644/2026 is filed seeking permission to amend the pleadings in terms of Schedule-A annexed to the application; that, by way of the proposed amendment the Appellant seeks to bring the Sale Notice on record and incorporate certain additional facts in the pleadings.
8. The Learned Counsel for Respondent No. 1/Bank would submit that the amendment application may be allowed subject to the condition that such amendment shall be without prejudice to the rights, claims, interest and contentions of Respondent No. 1 and shall not be construed as an admission of the facts stated in the amended pleadings.
9. Accordingly, I.A. No. 644/2026 is allowed. The Appellant is directed to file the amended Memo of grounds of appeal. The proposed amendments shall be without prejudice to the rights, claims, interests and contentions of the Respondents and shall not be
construed as an admission of the facts stated therein.
10. The Respondent No.1/Bank seeks time to file the reply to the stay application.
11. The reply be filed with an advance copy to the Appellant by the next date of hearing.
12. List the case on 05.11.2026 for further proceedings. Sd/- Chairperson 02.11.2026 Psa-19