Earlier, the debt restoration tribunal (DRT) had directed that the college in South Delhi’s Chittaranjan Park would go below the hammer as its administration had didn’t repay a debt amounting to Rs eight crore.
Chitra Maji, a member of the governing physique, mentioned, “The DRT has concluded listening to arguments on advantage on the objection in opposition to the public sale filed by the college and has reserved its order on the identical for January 31. There’s additionally a matter pending on the Delhi excessive courtroom. So for now, the public sale is not going to be happening.”
Petitions had been filed earlier than the excessive courtroom by a couple of college students of the college and in addition NGO Justice for All, in opposition to the public sale of the college. The counsel showing for ASREC mentioned that whereas the public sale couldn’t happen on the scheduled date as no bids had been obtained, a separate sale discover can be issued however “not instantly. ”
There are round 900 college students finding out within the senior part of the college, the property of which was presupposed to be auctioned on account of default in fee of the mortgage taken in 2005.