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Judgment
Vaibhavi D. Nanavati, J
Heard Mr. Shalin Mehta, learned Senior Advocate appearing with Mr. Arjun R. Sheth, learned advocate for the petitioner and Mr. Siddhartha
Samal, learned advocate for the respondent No.1 and Mr. Hardik C. Rawal, learned advocate for the respondent No.2.
Mr. Shalin Mehta, learned Senior Advocate states on instructions that there are total 716 units and that the respondent No.1 Bank may issue 'two
step NOCs' for execution of lease deeds of units in favour of allottees as against the payment under the OTS of Rs.9,39,90,879/Â and any further
payments that may be made by the petitioner, on pro rate basis, with a direction to the petitioner to deposit all the premia/revenue received pursuant to
execution of such lease in said Escrow Account No.61167964370 with the respondent No.1 Bank.
The respondent No.1 Bank has filed affidavitÂinÂreply mainly contending that the proceedings being Original Application No.1000 of 2018
instituted by the Bank in DRT are pending adjudication and the matter is likely to be heard finally.
Mr. Shalin Mehta, learned Senior Advocate has stated that since DRT is not functioning in view of the CovidÂ19 pandemic, it may not be possible
for adjudication of the matter. He has further stated that the Bank may consider the request made by the petitioner as stated earlier by way of an
undertaking since the proceedings before the DRT are not likely to be conducted.
It is open for the respondent No.1 Bank to consider the submission made by Mr. Shalin Mehta, learned Senior Advocate for the petitioner before
the next date.
Let the matter be posted on 31.5.2021.