KOTAK MAHINDRA BANK LIMITED Vs. SHANKHAJIT PARMANIK

JUDGEMENT

(1.) The present writ petition has been filed challenging the order dtd. 25/3/2022, passed by the learned DRT-1, New Delhi in SA No. 129/2022, titled as 'Sankhajit Pramanik versus Kotak Mahindra Bank Limited and Ors', whereby the Petitioner bank was restrained from taking physical possession of subject property being Ground Floor, No. 38, Pocket No. 52, Chittaranjan Park, New Delhi. The Petitioner further seeks directions to the Learned DRT-II to take up the application seeking recall/modification of the order dtd. 25/3/2022, at the earliest.

(2.) Learned senior counsel for the Petitioner states that the impugned order was passed on the basis of the submission made by Respondent No. 1 that it is ready and willing to settle the dispute between the parties and is further willing to purchase the property in question.

(3.) Learned senior counsel for the Petitioner states that though the Respondent No. 1 deposited the amount of INR 40 lakhs with the Petitioner Bank, yet no further efforts have been made by the Respondent No. 1 to settle the matter with the Petitioner Bank and rather the Respondent No. 1 is enjoying the stay granted by the learned Tribunal by depositing a meagre amount of INR 40 lakhs when the outstanding dues in the loan account of Principal Borrower i.e., Respondent No. 3 is in excess of INR 25 crores. It is the case of the Petitioner that the Respondent No. 1 is also not paying the rental of the subject property since long to the property owner i.e., Respondent No. 2.