Canara Bank v. Gottipati Suneetha
Case brief
What is this about?
The DRT set aside an e-auction of a bank's secured asset due to alleged procedural violations regarding notice periods under the Security Interest Enforcement Rules 2002. Appealing, the bank argued that only one notice suffices and the 30-day gap was maintained. The DRT allowed the appeal, restoring the auction sale.
What did the court decide?
Set aside the judgment and order passed by the DRT Visakhapatnam; dismiss the secured creditor's Special Appeal filed therein.
1
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA Appl Dy. No. 225 of 2019
(Arising out of S.A. No. 19 of 2018 – DRT- Visakhapatnam)
THE HON’BLE JUSTICE SHRI ANIL KUMAR SRIVASTAVA, CHAIRPERSON
20.04.2023
The Authorised Officer, Canara Bank Madhunagar Branch, Vijayawada, Andhra Pradesh.
… Appellant
- Vs. 1. Gottipati Suneetha, residing at D.No. 1-120, Batla Penumarru Village, Movva Mandal, Krishna District – 521138.
- Bompalli Vamsee residsing at D.No. 41-21/5-87, Ranigarithota, Chalasani Nagar, Krishna Lanka, Vijayawada – 13.
- Bompalli Siva residsing at D.No. 41-21/5-87, Ranigarithota, Chalasani Nagar, Krishna Lanka, Vijayawada – 13.
….. Respondents
For Appellant : Ms. Aparajita Rao, Learned Counsel
Issues for consideration
2 issues framed by the court
Whether DRT was right in setting aside auction sale due to violation of the 30-day gap requirement between notices under Rule 8(6) and 9(1) of the Security Interest Enforcement Rules 2002.
Whether the sale of immovable property was adequately valued in accordance with Rule 8(5).
Parties & counsel
- appellant
The Authorised Officer, Canara Bank Madhunagar Branch, Vijayawada, Andhra Pradesh
- respondent
Gottipati Suneetha
- respondent
Bompalli Vamsee
- respondent
Bompalli Siva
Coram
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · April
- CNR
- 191090002252019
- Topic
- Banking and Recovery
All orders in this case
7 orders share this CNR
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