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The DRT had directed the Bank to restore possession to Nirvan while hearing his plea under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. The disputed property, a row house at Kemps corner in the city, was to be restored to Nirvan to the extent of his shares in the same by January 22. ....
Kotak Mahindra sought for Court’s intervention in an order of DRT Mumbai which declared Nirvan Birla as owner of the property which had been mortgaged to Kotak Mahindra in a defaulted loan transaction with Yash Birla. ....