Disposed

Ramana Sekhar v. India Bulls Housing Finance Ltd.

DRAT17 Sept 2025MISC APPEAL/46/2025

Case brief

AI extract

What is this about?

This appeal filed by the appellant challenging an order to deposit 10% for extension of status quo in the pending main stay petition was disposed of by directing the lower court to decide the main suit expeditiously. Pending issues were kept open.

What did the court decide?

Directed the lower court to dispose of the main stay petition (SA 136/2024) expeditiously; issues on interest, charges, OTS, and foreclosure kept open. Each party to bear their own costs.

Ramana Sekhar versus India Bulls Housing Finance Ltd. — Insolvency and Bankruptcy | DRAT (2025)

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 17^th of September 2025

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PRESENT: Hon’ble Mr. Justice G. Chandrasekharan

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CHAIRPERSON

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MA (SA) 46/2025

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(Arising out of SA 136/2024 on the file of the DRT-II, Chennai)

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Between

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Shri Ramana Sekhar, S/o V.S.Arumugam, Old No.26/3 New No.47, P.V. Cherian Crescent Road, (Erstwhile Victoria Crescent Road), Chennai. 600 008.. … Appellant

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And

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The Authorised Officer, Indian Bulls Housing Finance Ltd., Corporate Office, Plot No.422 B, Udyog Vihar, Phase -IV, Gurugram 122 016 Khiviraj Complex, Ground Floor, (Hariyana State). …Respondent

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Counsel for Appellant : M/s. A. Arokia Satheesh Counsel for Respondents : Mr. T. Sai Krishnan

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ORDER

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This appeal is filed challenging the order dated 01.05.2025 passed in SA 136/2024 by the learned Presiding Officer, DRT-II, Chennai, directing the appellant to deposit 10% of the amount due for extension of an order of Status Quo.

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The main SA 136/2024 was filed challenging the possession notice dated 22.02.2024 and the said SA is still pending.

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In the said circumstances, this tribunal is of the view that this appeal can be disposed of by giving a direction to the learned Presiding Officer, DRT -II, Chennai to dispose the SA 136 /2024 as expeditiously as possible. Accordingly, this appeal is disposed with a direction to the learned Presiding Officer, DRT-II, Chennai to dispose the SA 136 /2024 as expeditiously as possible. All the issues touching upon the interest, charges, OTS amount towards the loan due and all other relevant issues including the charges of foreclosure

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when the loan are not closed, are kept open to be decided by the learned Presiding Officer .DRT II, Chennai.

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In the result, this appeal is disposed of accordingly.

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Parties are directed to bear their own costs.

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Pending IAs, if any, shall stand closed.

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(Dictated to Stenographer (ra), in open Court, transcribed by her, corrected and signed by me this 17^th of September 2025)

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Sd/-

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(JUSTICE G. CHANDRASEKHARAN)

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CHAIRPERSON

Ramana Sekhar v. India Bulls Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

Ramana Sekhar v. India Bulls Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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