JULIE AMITABH PAREKH Vs. RELIANCE ASSET RECONSTRUCTION COMPANY LIMITED
LAWS(BOM)-2017-11-346
HIGH COURT OF BOMBAY
Decided on November 14,2017

Julie Amitabh Parekh Appellant
VERSUS
Reliance Asset Reconstruction Company Limited Respondents

JUDGEMENT

B.R. Gavai, J. - (1.) Petitioners, by way of present Petition, have assailed the order passed by the learned Chairperson of the Debt Recovery Appellate Tribunal, Mumbai (hereinafter referred to as "DRAT"), by which, while deciding the waiver application filed by the present Petitioners, learned Tribunal has directed the Petitioners to deposit 25% of the amount covered by notice issued under section 13(2), for allowing the waiver application.
(2.) Brief facts giving rise to the present Petition are as under:
(3.) One Parekh Aluminex Limited was a principal borrower of the assigner Yes Bank. Late Amitabh Arun Parekh was a mortgagor and guarantor for the debt. Unfortunately, Mr. Amitabh Arun Parekh expired on 06/01/2013. Subsequently, notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "the SARFAESI Act") came to be issued to the Petitioners who are undisputedly legal heirs of the said deceased Amitabh.;


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