Disposed

Santhosh Kumar T v. Canara Bank

DRAT11 Apr 2025MISC APPEAL/32/2025

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal noted that the main Summary Adjudication is pending. It directed the DRT Presiding Officer to dispose of the main matter within two months and granted interim protection for the registration of sale certificates for auctioned properties.

What did the court decide?

Direction to the DRT Presiding Officer to dispose of the main suit within two months and interim protection for registration of sale certificates.

Santhosh Kumar T versus Canara Bank — Banking and Recovery | DRAT (2025)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 11^th day of April, 2025

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

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MA (SA) 32/2025 (arising out of IA 844/2024 in SA 160/2024 on the file of DRT, Coimbatore)

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Between

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Mr. Santhosh Kumar T S/o Late Sri Thulasidas, 2/218, LRG Nagar, Narasimmanaickenpalayam, Coimbatore 641 031.

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…..Appellant

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And

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Canara Bank, Represented by its Authorised Officer, Narasimmanaickenpalayam Branch, GV Tower, MTP Road, Narasimmanaickenpalayam Coimbatore 641 031.

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…..Respondent Counsel for Appellant : Shri I.M. Siddartha Ramarajan Counsel for Respondent : M/s T. Hemalatha & Co.

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ORDER

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This appeal is filed under Section 18 of SARFAESI Act against the order passed

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by Learned Presiding Officer, DRT, Coimbatore in IA 844/2024 in SA 160/2024

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on 5.3.2024.

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Learned Counsel for the appellant submitted that this appeal is filed against the interim order passed in the stay application i.e.,IA 844/2024 in SA No.160/2024 wherein Learned Presiding Officer directed the appellant to deposit a sum of Rs.33.00 lakhs in two instalments. Aggrieved by the said order, this appeal is filed. Learned Counsel for the appellant further submitted that respondent bank is trying to register the sale certificate in respect of two properties sold in the auction.

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Learned Counsel for the respondent bank submitted that sale was conducted as scheduled and sale certificate has been issued but the same is not registered so far, in respect of those two properties sold in auction.

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I have considered the rival submissions Learned Counsel for parties and perused the records.

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This appeal being filed against the interim order passed by the Ld. Presiding Officer in IA 844/2024 (stay) in SA 160/2024 and the main SA is still pending, without going into the merits of the case, this Tribunal is of the view that a direction can be given to the Learned Presiding Officer, DRT, Coimbatore to dispose of the main SA as expeditiously as possible.

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Accordingly, Learned Presiding Officer, DRT, Coimbatore is directed to dispose of main SA 160/2024 as expeditiously as possible and in accordance

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with law, preferably within a period of two months from the date of receipt of

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a copy of this order.

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In the meanwhile, there shall be an interim protection for registration of sale certificate in respect of two properties mentioned in the schedule for a period of two months.

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Learned Presiding Officer, DRT, Coimbatore is further directed to make endeavour to dispose of the said SA 160/2024 within a period of two months. In case, if it is not possible, it is for the Learned Presiding Officer to decide on

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the continuation of interim order of stay or not, depending upon the exigency.

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In the result, Appeal MA (SA) 32/2025 is disposed of as indicated above.

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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 11^th Day of April, 2025)

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Sd/- (JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON

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Santhosh Kumar T v. Canara Bank

Case brief

What is this about?

What did the court decide?

Santhosh Kumar T v. Canara Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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