BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson I.A. No. 448/2023 (CoD)

In Misc. Appeal on Diary No. 445/2023 Between Ramchandra Khandu Shinde … Appellant/s V/s.

GIC Housing Finance Ltd. …Respondent/s Ms. Sonali Jain, Advocate for Appellant.

Ms. Medha Rane, i/b M/s. M & S Legal Ventures, Advocate for Respondent.

-: Order dated: 23/01/2025:-

The appellant is in appeal impugning the order dated 29.08.2022 in the Interlocutory Application No. 1974/2022 (I.A.) in Securitisation Application No. 256/2022 (S.A.) on the files of the Debt Recovery Tribunal-II, Mumbai (D.R.T.) wherein the injunction sought against the 1^st Respondent from taking physical possession of the secured assets was declined. The D.R.T. had disposed of the application stating that the appellant had come up with an OTS proposal which was accepted by the respondent financial institution and therefore, there is no prima facie case made out to grant the protection.

2. While considering I.A. No. 183/2023 for waiver of pre-deposit this Tribunal had taken account of the situation wherein the OTS proposal was accepted and then defaulted. It would therefore amount to a waiver of