- (1.) Cp 65/I&BC/NCLT/MB/MAH/2017 Learned Representatives are present. A legal question on Maintainability is partly heard. However, the arguments are to be concluded on the next date of hearing. Adjourned to 15.12.2017.
(2.) Learned Representative on behalf of Bank of India is present and stated that Miscellaneous Application No.360 of 2017 filed by the Bank dated 23.08.2017 is not pressed and permission be granted to withdraw the said Miscellaneous Application.
(3.) On perusal of the Miscellaneous Application No.360, it is noticed that the Bank has provided Cash Credit limit of Rs. 4 crores, Term Loan of Rs. 4,19,70,000/-. Further, in order to secure the credit facility, the properties of the Guarantors have also been mortgaged. The Bank had also initiated action under SARFAESI Act 2002 by issuing notices under section 13(2) of the Act. A prayer has been made that the Bank may be permitted to proceed under SARFAESI Act in order to sell and recover the dues. However, today the Learned Representative has not pressed this Application and sought permission to withdraw the same.;