Sandip Nanjabapu Timkare v. Icici Home Finance Cooperative Ltd Through Its Branch Manager And Others

2025:BHC-AUG:14163-DB :: 1 ::

IN THE HIGH COURT OF JUDICATURE OF BOMBAY

BENCH AT AURANGABAD WRIT PETITION NO.6137 OF 2025 Sandip Manjabapu Timkare ... PETITIONER

VERSUS

ICICI Home Finance Co-operative Ltd.

and others ... RESPONDENTS .......

Mr. N.B. Patekar, Advocate for petitioner Mr. Atul A. Mishra, Advocate for R.No.1 to 3 .......

CORAM : R.G. AVACHAT AND SANDIPKUMAR C. MORE, JJ.

DATE : 9th MAY, 2025 O R D E R :

After hearing learned counsel for the parties, the matter could be disposed of in terms of the following order. Hence, the order :

O R D E R

2.

The petitioner is a borrower. The respondent Bank is the lender. Since the petitioner went in arrears, he moved

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the Debts Recovery Tribunal. The settlement was worked out before the Debts Recovery Tribunal. A copy of the settlement is on record. According to the petitioner, since his father passed away in the meanwhile, he could not fulfill the terms of the settlement. As of now, a sum of Rs.55,68,076=20 ps. is outstanding.

3.

Learned counsel for the petitioner submits that, the petitioner is ready to deposit a sum of Rs.25 Lakhs with the Bank today itself. Learned counsel for the Bank agrees to receive the amount. The petitioner undertakes to deposit further amount of Rs.15 Lakhs within one week. 4.

The petitioner has prayed in this petition to ask the respondent Bank to consider to make applicable one time settlement scheme. On payment of Rs.40 Lakhs with the respondent Bank, the respondent Bank shall consider the petitioner's claim on its own merits and even uninfluenced by this order. In view of the same, the auction sale scheduled for 16th May 2025 to stand stayed for a period of next two months, subject to petitioner's depositing the amount of Rs.25 Lakhs. If the petitioner fails to deposit the amount of Rs.25

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Lakhs today as directed above, the stay shall not be in operation.

5.

Writ Petition stands disposed of.

(SANDIPKUMAR C. MORE, J.) (R.G. AVACHAT, J.) fmp/-