Pyare Lal Tamta vs Canra Bank And Another

Pankaj Purohit, J

According to respondents-bank a sum of Rs.20,48,789/- and 1,73,816.17/- was outstanding on 30.11.2023 and 15.12.2023 against the petitioner, who took a CCA limit from the respondents bank.

The petitioner moved a Securitization Application No.243 of 2024 M/s Tamta Medical Agencies & Others vs. Canra Bank before the Debt Recovery Tribunal, Dehradun (for short DRT) wherein learned DRT, Dehradun has directed the petitioner to deposit Rs.10.00 lacs. within 15 days from the date of passing of the order dated 11.09.2024 to the bank in order to save the property which was put to auction by the bank under the provisions of Securitization Act of 2002.

Petitioner has moved this Court by filing the present writ petition only on the premise that a very short period has been given by the DRT to the petitioner to deposit the aforesaid amount and if this period is increased for some stipulated time, petitioner would be able to deposit the entire outstanding amount against him. It is also contended by learned counsel for the petitioner that petitioner has made a deposit of Rs.5.00 lac. to the respondents bank already in the month of April 2024 and after that he approached the DRT, Dehradun.

Learned counsel for the respondents bank was directed to seek instructions in the matter if petitioner is ready to deposit the entire outstanding amount within a stipulated period whether it will be acceptable to the respondents bank or not.

Learned counsel for the respondents, on instructions, submits that if petitioner is able to deposit the entire outstanding amount against him within one month, the respondents bank is ready to cooperate with the petitioner.

Be that as it may.

In the opinion of this Court, respondents bank want its money back and for that purpose respondents bank is ready to give one month’s time to the petitioner in order to settle the equity between the parties, this Court is granting three months’ time to the petitioner to deposit the entire outstanding amount to the respondents bank.

The petitioner is directed to deposit the entire outstanding amount within three months from today.

With these observation, the writ petition is disposed of.