ADVERTISEMENT
of acquisition of 4 units of Volvo EC 480DL Excavators. It is further
contended that the said Excavators remained hypothecated in favour of the
SPONSORED
respondent till full repayment of the loan. It is further contended by the
learned Counsel for the petitioner that the petitioner has duly repaid the
entire loan along with interests in terms of the said agreement. However,
despite such repayment the respondent had issued a notice dated
27.01.2023 raising a further demand of Rs.78,25,450.39/- alleging
outstanding dues payable by the petitioner. The petitioner disputed the said
demand and replied to the notice dated 27.01.2023, by a reply dated
10.01.2024. However, the parties submitted that the disputes could not be
amicably resolved.
