Oral

State Consumer Disputes Redressal Commission

U.P., Lucknow.

Appeal No.110 of 2021

Magma Fincorp Ltd. vs. Ramdas Savita & ors.

Date   17.10.2024

ORDER

(Delivered by Mr. Justice Ashok Kumar, President)

Per Mr. Justice Ashok Kumar, President: Heard Sri Adil Ahmad, ld. counsel for appellant and Sri Saurabh Singh, ld. counsel for respondent no.2.

In pursuance of the previous orders, the appellant company has handed over a demand draft of Rs.1,75,000.00  and in pursuance thereto the respondent no.2 has handed over the original documents related to the property which were mortgaged by the appellant company with M/s ARCIL to the complainant Sri Ramdas Savita, who is present and accepted the same. 

  The demand draft handed over by the appellant could not be encashed due to expiry of the period provided therein. Therefore, the appellant company will get back the previously issued demand draft and will provide the fresh demand draft of Rs.1,75,000.00 (Rs. One Lakh Seventy Five lakhs) within 2 weeks from today. 

In view of aforesaid, the instant appeal is disposed of.

The respondent/complainant will accordingly withdraw the execution case or any other proceedings related to the dispute in question in the instant appeal.

          If any amount is deposited by the appellant before Registrar at the time of filing of this appeal under section 15 of the Consumer Protection Act, 1986, the same will be returned to the appellant as per rules alongwith accrued interest upto date.

  The stenographer is requested to upload this order on the Website of this Commission today itself. 

Certified copy of this order be provided to the parties in accordance with rules.

                                           (Justice Ashok Kumar)                                                     

                                                      President

Jafri PA-I /Court-1