Allowed

Ms Om Sree Mathaji Engineers v. Union Bank of India

DRAT5 Jun 2025MISC APPEAL/30/2025

Case brief

AI extract

What is this about?

The Tribunal disposed of the appeal filed under the SARFAESI Act by directing the Debt Recovery Tribunal to dispose of the main sanction application within two months, while granting a stay on the interim order pending that disposal.

What did the court decide?

Stay of the order passed in IA 1506/2024 for two months; direction to DRT-II Chennai to dispose of Main SA 395/2024 within two months.

Ms Om Sree Mathaji Engineers versus Union Bank of India — Banking and Recovery | DRAT (2025)

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MA(SA) 30/2025

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 5^th day of June, 2025

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PRESENT: HON’BLE MR. JUSTICE G. CHANDRASEKHARAN CHAIRPERSON

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MA (SA) 30/2025

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(arising out of IA 1506/2024 in SA 395/2024 on the file of DRT-II, Chennai)

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Between

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1. M/s Om Sree Mathaji Engineers, Rep. by its Proprietor, Venkataramani J., Plot No.8, Door No.2/1137A, Arumugam Nagar 1^st Street, Near Jeeva Nagar, Madipakkam, Chennai 600 091.

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2. Kamakshi V. Wo Mr. Venkataramani J., Plot No.8, Door No.2/1137A, Arumugam Nagar 1^st Street, Near Jeeva Nagar, Madipakkam, Chennai 600 091.

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…..Appellants

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And

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1. The Authorised Officer, M/s Union Bank of India, (Erstwhile Andhra Bank) Asset Recovery Branch, No.9, Casa Major Road, Egmore, Chennai 600 008.

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…..Respondent Bank

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Counsel for Appellants : M/s N.Nandakumar & Co., Counsel for Respondent Bank : M/s A. Jaishankar

MA(SA) 30/2025

ORDER

This appeal is filed under Section 18 of the SARFAESI Act against the order passed by Learned Presiding Officer, DRT-II, Chennai, passed in IA 1506/2024 in SA No.395/2024 dated 18.11.2024 filed for staying the proceedings in SA 395/2024.

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The aforesaid SA was filed challenging the E-Auction Sale Notice dated 6.7.2024 fixing the public auction sale on 26.7.2024. Learned Presiding Officer dismissed IA 1506/2024 on the ground that sale had taken place and 3^rd party interest has been created. It is also seen from the order that IA 1694/2024 filed by the appellants to implead the auction purchaser was allowed.

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Since this appeal is filed only against an interim order passed in IA 1506/2024, this Tribunal is of the view that this appeal can be disposed with a direction to Learned Presiding Officer, DRT-II, Chennai to dispose of main SA No.395/2024, as expeditiously as possible and in accordance with law, leaving open all the contentions raised before this Tribunal to be raised before the Learned Presiding Officer.

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However, there shall an order of stay of operation of order of Learned Presiding Office, passed in IA 1506/2024 in SA 395/2024 dated 18.11.2024 for

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MA(SA) 30/2025

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a period of two months. Learned Presiding Officer is directed to make endeavour to dispose of SA 395/2024 within a period of two months. If it is not possible to dispose within the period of two months, it is open to the Learned Presiding Officer to decide on the continuation of stay order, on the basis of need and exigency.

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In the result, Appeal MA(SA) 30/2025 is disposed of, with the above direction. Parties are directed to bear their own costs.

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Pending IAs, if any, stand closed.

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[Dictated to Steno(SN), transcribed by him, corrected, signed and pronounced by me in open court, this 5^th Day of June, 2025)

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Sd/- (JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON

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Ms Om Sree Mathaji Engineers v. Union Bank of India

Case brief

What is this about?

What did the court decide?

Ms Om Sree Mathaji Engineers v. Union Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

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