Disposed

D Chandrika v. Union Bank of India

DRAT10 Jan 2025MISC APPEAL/21/2023

Case brief

AI extract

What is this about?

The Appellate Tribunal disposed of an appeal challenging an interim order requiring deposit. Noting that possession had already been taken by the bank in a connected appeal and the appellant had deposited the earlier directed sum, the Tribunal directed the lower court to decide the underlying stay application on merits expeditiously.

What did the court decide?

The appeal disposed of; Presiding Officer directed to dispose of the stay application on merits expeditiously; parties bear own costs.

D Chandrika versus Union Bank of India — Banking and Recovery | DRAT (2025)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the, 10^th of January, 2025

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PRESENT: Hon’ble Mr. Justice G. Chandrasekharan

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CHAIRPERSON

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MA (SA) 21/2023

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[IA 2320/2022 in SA 593/2022 on the file of DRT, Coimbatore]

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Between

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D. Chandrika D/o P.S. Dharmalingam, 6/121A, Ponnegoundanpudhur, S.S Kulam - Via, Annur Taluk, Coimbatore – 107.

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…Appellant

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And

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The Hon’ble Chief Judicial Magistrate, District Court Complex, Coimbatore.

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The Authorised Officer, M/s. Union Bank of India, Regional Office, SME Coimbatore Branch, No. 800B, First Floor, Mettupalayam Road, R.S. Puram, Coimbatore – 641 002.

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Mr. P.S. Dharmalingam, S/o P.S. Shanmugasundaram, 6/121, Ponnegoundenpudur, S.S Kulam Via, Annur Taluk, Coimbatore – 107.

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Mrs. D. Jayanthi, W/o P.S. Dharmalingam, 6/121, Ponnegoundenpudur, S.S Kulam Via, Annur Taluk, Coimbatore – 107. ….. Respondents (R1 given up) Counsel for Appellants : Mr. G. Desingu Counsel for Respondent No. 2 : Mr. R Venkatesan

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ORDER

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This Appeal is filed challenging the order passed by Learned Presiding Officer, DRT, Coimbatore, in IA 2320/2022 in SA 593/2022.

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SA was filed challenging the order passed by Learned Chief Judicial Magistrate dated 16.05.2022 in CMP No. 6192/2022. In the said SA, the Appellant took out an Application in IA 2320/2022 to grant stay of all further proceedings pursuant to the order of the Learned CJM dated 16.05.2022.

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Learned Presiding Officer, directed the Appellant to deposit a sum of Rs.1.20 Crores to the Respondent Bank within a period of two weeks from the date of the impugned order. Challenging the said order, this Appeal is filed. Now this Appeal is ripe for final hearing.

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Heard Learned Counsel for the Appellant and

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Respondent Bank and perused the record.

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This Tribunal, on 07.08.2023, directed the Appellant to make deposit of Rs.24.50 Lakhs, on or before 21.08.2023, for

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grant of stay. In compliance of this order, the amount had been deposited by Appellant.

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Learned Counsel for both the parties submitted that the 2^nd Respondent, Union Bank of India could not take possession due to the status quo order granted by this Tribunal.

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It is submitted by Learned Counsel for Appellant that the Central Bank India, the Respondent in a connected Appeal in RA (SA) 36/2021, has taken possession of this property.

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In the light of the submissions made above, as this Appeal is only against an Interim Order, and that the Appellant had already deposited Rs.24.50 Lakhs, and also of

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the fact that, the possession has already been taken, I deem it appropriate to direct Learned Presiding Officer, DRT, Coimbatore, to dispose of the SA 593/2022, on merits and in accordance with law, as expeditiously as possible.

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Accordingly, this Appeal in M.A(S.A):21/2023is disposed of. Both parties shall bear their own costs. All pending IAs, if any, stand closed.

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[Dictated to Athistamani, PS, in open court, transcribed by her, corrected and signed by me, this 10^th of January, 2025]

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D Chandrika v. Union Bank of India

Case brief

What is this about?

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D Chandrika v. Union Bank of India

Case brief

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