Yes Bank v. Enkay Export India Limited
Case brief
What is this about?
In an appeal against a DRT order setting aside a bank's demand notice under the SARFAESI Act, the Appellate Tribunal held that the notice was validly served. The court relied on an authorization letter accepted by borrowers to represent their co-borrowers and the submission of a reply to the notice, deeming service valid under Rule 3. The impugned order setting aside the notice was set aside.
What did the court decide?
The appeal was allowed; the impugned order setting aside the Section 13(2) demand notice was set aside to that extent.
IN DEBTS RECOVERY APPELLATE TRIBUNAL, ALLAHABAD
Appeal Dy. No. 1605/2023
Yes Bank, Branch Office at 116/8, Sanjay Place, Civil Lines, Agra- 282002 through its Duly constituted Attorney/authorized representative Pradeep Kumar, Senior
....……………………...……………………………………………...Appellant
- Versus
- M/s Enkay Export India Ltd. through its Director, O/o Plot No. C-94,C-134 to C-138, EPIP, Shastripuram, Agra282007.
- Sanjay Jain, S/o Late Nirmal Kumar Jain, R/o 24/97, Puniya Para, Loha Mandi, Agra- 282002.
- Ankit Jain, S/o Sri Sanjay Jain, R/o 24/97, Puniya Para, Loha Mandi, Agra- 282002.
- Ashish Jain, S/o Sri Sanjay Jain, R/o 24/97, Puniya Para, Loha Mandi, Agra- 282002.
- Smt. Renu Jain, W/o Sri Sanjay Jain, R/o 24/97, Puniya Para, Loha Mandi, Agra- 282002.
- Smt. Basanti Devi Jain, W/o Late Nirmal Kumar Jain, R/o 24/97, Puniya Para, Loha Mandi, Agra- 282002.
Issues for consideration
2 issues framed by the court
Whether the demand notice under section 13(2) of the SARFAESI Act was validly served upon all borrowers despite claims of non-service.
Whether the validity of service of the demand notice is compromised by discrepancies in postal receipts or newspaper publication copies filed before the Tribunal versus those placed before the Bank.
Parties & counsel
- appellant
Yes Bank
- respondent
M/s Enkay Export India Ltd.
- respondent
Sanjay Jain
- respondent
Ankit Jain
- respondent
Ashish Jain
- respondent
Case details
As recorded by the court registry
All orders in this case
4 orders share this CNR
Similar cases
Judgements on the same questions, provisions and authorities, from every court