Nashik Gramin Shikshan Prasarak Mandal vs Abhyudaya Co - operative Bank Ltd. Advocate - Jadhav Manisha K — 43/2021
Case under Arbitration and Conciliation Act Section 34. Status: Notice Ready. Next hearing: 22nd June 2026.
Arbitration Case
CNR: MHNS010019152021
Next Hearing
22nd June 2026
e-Filing Number
-
Filing Number
923/2021
Filing Date
15-03-2021
Registration No
43/2021
Registration Date
03-04-2021
Court
District and Sessions Court , Nashik
Judge
1-PRINCIPAL DISTRICT AND SESSIONS JUDGE, NASHIK
Acts & Sections
Petitioner(s)
Nashik Gramin Shikshan Prasarak Mandal
Adv. Pathak Vinayak K
Rajaram D. Pangavhane ( Patil )
Prabhavati R. Pangavhane ( Patil )
Shital Y. Mulay ( Ms. Shital R. Pangavhane )
Ashwini R. Pangavhane
Gaurav R. Patil Pangavhane
Sadhana D. Pangavhane
Anita B. Pangavhane
Respondent(s)
Abhyudaya Co - operative Bank Ltd. Advocate - Jadhav Manisha K
Vasant N. Lothey Patil
Hearing History
Judge: 1-PRINCIPAL DISTRICT AND SESSIONS JUDGE, NASHIK
Notice Ready
Notice Ready
Notice Ready
Notice Ready
Notice Ready
| Date | Purpose | Result |
|---|---|---|
| 18-04-2026 | Notice Ready | |
| 24-03-2026 | Notice Ready | |
| 10-03-2026 | Notice Ready | |
| 05-03-2026 | Notice Ready | |
| 11-02-2026 | Notice Ready |
Interim Orders
Summary: The court granted an interim stay of the arbitration award (₹15,98,47,513.78) passed on 19/12/2020 against M/s. Nashik Gramin Shishkan Prasarak Mandal, finding that the recovery notice issued by Abhyudaya Co-operative Bank under the MSCS Act, 2002 appears incorrect and arbitrary. The court held that under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, co-operative banks lack jurisdiction to initiate recovery proceedings, which should be pursued through the Debts Recovery Tribunal instead. The stay remains effective until the next hearing date, with directions for expeditious service of respondents. This case analysis is maintained by casestatus.in based on publicly available court records.
Summary: The court granted an interim stay of the arbitration award (₹15,98,47,513.78) passed on 19/12/2020 against M/s. Nashik Gramin Shishkan Prasarak Mandal, finding that the recovery notice issued by Abhyudaya Co-operative Bank under the MSCS Act, 2002 appears incorrect and arbitrary. The court held that under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, co-operative banks lack jurisdiction to initiate recovery proceedings, which should be pursued through the Debts Recovery Tribunal instead. The stay remains effective until the next hearing date, with directions for expeditious service of respondents. This case analysis is maintained by casestatus.in based on publicly available court records.
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