AI Structured Summary
Not yet generated for this judgment
Judgment
Ashok Menon, Chairperson
The matter is taken up for hearing by way of a praecipe filed by the Appellant for seeking urgent relief.
The Securitization Application (S.A.) No. 40/2018 is pending before the Debts Recovery Tribunal-III, Mumbai (D.R.T.). There is also a connected application filed under Sec. 19 (25) of the Recovery of Debts And Bankruptcy Act, 1993 (“RDB “Act” for short) against the order passed in Original Application (O.A.) No. 791/2016 pending before the Debts Recovery Tribunal-I, Mumbai (D.R.T.). It is, therefore, essential that both these matters be heard by the same D.R.T. to avoid contradictory order.
The Ld. Counsel appearing for the Respondents and submitted that the S.A. No. 40/2018 has been dismissed by the D.R.T. vide order dated 07.11.2023 and the copy of the order is also placed before this Tribunal for perusal.
The Ld. Counsel appearing for the Applicant was probably not aware of that. Since the S.A. has been dismissed the necessity of transferring the S.A. to be decided together with the pending O.A., and the application for D.R.T.-I, Mumbai does not arise for consideration.
Hence, the transfer application is dismissed.