Appeal against DRT order allowed. Remitted to DRT to decide afresh after appellant files additional evidence on valuation and notice fixation under Section 13(4) SARFAESI Act.
Appeal allowed; matter remanded to DRT to decide afresh after filing additional evidence on valuation report and fixation of notice under Section 13(4).
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
Appeal No. 34 of 2021 (Arising out of S.A. 288 of 2018 in DRT, Visakhapatnam)
THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
| 08.08.2023 | State Bank of India … Appellant -Vs- Maddi Vasantha Lakshmi & Another … Respondents |
|---|---|
| Mr. Soudip Pal Choudhuri with Ms. Saswati Sikder, Learned Counsel for Appellant |
|
| Mr. J. Jeevan, Learned Counsel for Respondent No. 1 |
Mr. Nemani Srinivas, Learned Counsel for Respondent No. 2
THE APPELLATE TRIBUNAL :
Instant appeal arises against an order dated 8th April, 2021 passed by Learned DRT, Visakhapatnam in S.A. 288 of 2018 (Maddi Vasantha Lakshmi -vs- State Bank of India & 2 Others).
Heard the Learned Counsel for the parties and perused the record.
At the very outset Learned Counsel for Appellant Bank submits that the Appellant may be permitted to file additional evidence regarding valuation report as well as affixation of notice under Section 13 (4) of the SARFAESI Act, 2002 which could not be filed earlier before the Learned DRT.
As far as merits of the matter are concerned, since a prayer is made by the Appellant Bank for filing additional evidence, it would not be proper to enter into the merits of
2
the matter, rather, I find the ground to be sufficient to allow the Bank to lead evidence and to remit the matter to the Learned DRT with a specific direction to decide the matter within a period of three months from the date copy of the order is received. If any adjournment is sought by the Appellant Bank, Learned DRT would be at liberty to proceed in accordance with law.
Accordingly, the appeal is allowed and the matter is remanded to Learned DRT, Visakhapatnam for deciding afresh in accordance with law after affording opportunity of hearing to the parties. The remand order is limited only to the extent of filing additional evidence by the Bank on the issue of valuation report as well as fixation of notice under Section 13 (4) of the Act. Issue of applicability of Section 13 (8) would also be looked into by the Learned DRT.
Copy of the order be supplied to Appellant and the Respondents and a copy be also forwarded to the concerned DRT.
File be consigned to Record room.
Order dictated, signed, dated and pronounced in open Court.
(Anil Kumar Srivastava,J) Chairperson
Dated: 08th August, 2023 15/ac
1 issue framed by the court
Whether the appellant bank is permitted to file additional evidence regarding valuation report and affixation of notice under Section 13(4) of the SARFAESI Act, 2002.
2 provisions across 1 enactments
State Bank of India
Maddi Vasantha Lakshmi
Another
Anil Kumar Srivastava
As recorded by the court registry
6 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
