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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

Judgment Cited in Precedent Map Related
Case NumberI.A. 133 of 2004 in O.A. 51 of 2003
CounselFor 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
JudgesK.J. Paratwar, Presiding Officer
IssueRecovery 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)
CitationI (2005) BC 219
Judgement DateThursday January 06, 2005
CourtNagpur Debt Recovery Tribunals

Judgment:

K.J. Paratwar, Presiding Officer

  1. Heard the learned Counsel.

  2. 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.

  3. 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.

  4. The learned...

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