I.A. 133 of 2004 in O.A. 51 of 2003. Case: State Bank of India Vs Paramount Sinters and Ors.. Nagpur Debt Recovery Tribunals
| Case Number | I.A. 133 of 2004 in O.A. 51 of 2003 |
| Counsel | For Appellant: Mulchandani, Adv. and For Respondents: Karamchandani, Adv. for Defendant Nos. 1, 3 and 4, A.M. Deo, Adv. for Defendant No. 5, Khanzode, Adv. for Defendant No. 6, S.S. Joshi, Adv. for Proposed D-8, Mardikar, Adv. for Proposed D-9, Pillai, Adv. for Proposed D-10 and D-11 and Naik, Adv. for Proposed D-12 |
| Judges | K.J. Paratwar, Presiding Officer |
| Issue | Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Section 19 and 19(1); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Section 13(7) |
| Citation | I (2005) BC 219 |
| Judgement Date | Thursday January 06, 2005 |
| Court | Nagpur Debt Recovery Tribunals |
Judgment:
K.J. Paratwar, Presiding Officer
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Heard the learned Counsel.
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5th defendant has taken out this application for dismissal of the O.A. on the ground that the applicant has taken recourse to provisions to Securitisation Act.
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The learned defence Counsel has drawn my attention to proviso to Section 19(1) of RDDB & FI Act and Section 13(7) of the Securitisation Act for urging that applicant Bank has to make election and should proceed either with O.A. or under Securitisation Act.
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The learned...
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