BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson Misc Appeal No.42/2023 Between M/s. Nextron Technologies LLP & Anr. … Appellant/s V/s.

UTI Mutual Fund & Ors. …Respondent/s N. Thakkar, along with Mr. Viraj Bansod, i/b Mr. Tushar Goradia, Advocate for Appellant.

S. A. Kulkarni, Advocate for Respondent.

-: Order dated: 17/01/2024:-

The Appellants are the auction purchasers of the property which was for e-auctioned by the Recovery Officer in the recovery proceedings pending as Recovery Proceeds (R.P.) No. 62/2002 in Original Application(O.A.) No. 1565/1999 on the files of the Debts Recovery Tribunal-I, Mumbai (D.R.T). The Recovery Officer had sold their property to the Appellants on 06.04.2018 and the sale was confirmed.

The entire amount towards sale consideration was paid and some societal dues not revealed during the auction, remained outstanding. The Appellants requested the release of a surplus amount of ₹ 1,65,72,073/- lying in deposit with the Recovery Officer for payment of the dues towards the society payable by the borrower. The third respondent society filed an intervention application for realising the dues to the society fro