Disposed

Car Tree Accessories Pvt. Ltd. v. State Bank of India

DRAT7 Oct 2025MISC APPEAL/47/2025

Case brief

AI extract

What is this about?

Appeal against interim stay order directing deposit of loan amount before possession was disposed without adjudication. Tribunal directed DRT-I to expeditiously decide the stay application and granted a one-month interim stay on possession.

What did the court decide?

Direction to DRT-I to dispose Stay Application 838/2024 expeditiously; interim stay on possession granted for one month.

Car Tree Accessories Pvt. Ltd. versus State Bank of India — Banking and Recovery | DRAT (2025)

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 7^th of October 2025

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PRESENT: Hon’ble Mr. Justice G. Chandrasekharan

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CHAIRPERSON

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MA (SA) 47/2025

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(Arising out of IA No. 4124/2025 in SA 838/2024 on the file of the DRT, Ernakulam)

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Between

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Mrs. Car Tree,

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Accessories Pvt. Ltd., Ground Floor, KBS Safa Plaza, Geethanjali Junction,

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Vyttila, Cochin 682 019.

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Rep. by its Managing Director Naufal Pakkarath,

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Ahammed.

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Naufal Pakkarath Ahammed, Pakkarath House, Cherupulassery PO Palakka

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679 503.

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Harish P. Ahammed Pakkarath House, Cherupulassery PO, Palakkad 679 503.

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Dr. Subaida, Pakkarath House, Cherrupulassery PO, Palakkad 679 503. … Appellants

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And

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Authorised Officer, State Bank of India, Padivattom Branch, Stressed Asset Recovery Branch, 40/974, 2^nd floor, R.S. Building, M.G. Road, Ernakulam 682 011. …Respondents Counsel for Appellant : M/s. Saiby Jose Kidangoor Counsel for Respondents : Mr. M.L. Ganesh

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ORDER

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This appeal is filed against the interim order dated 12/11/2024 in the Stay application in SA 838/2024 passed by the learned Presding Officer, DRT-I, Ernakulam.

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The learned Presiding Officer, vide interim order dated

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12/11/2024 in the Stay application directed the respondent to defer

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taking physical possession of the secured asset subject to the appellants depositing a sum of Rs.1.50 crores, which was the

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outstanding loan amount, with the Bank, on or before 28/11/2024. Aggrieved by this order, this appeal is filed.

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SA 838/2024 is filed to declare the proceedings initiated by the Bank against the appellants under Section 14 of the SARFAESI Act as null and void and for consequential reliefs 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 by giving a direction to the learned Presiding Officer, DRT, Ernakulam to dispose SA 838/2024 as expeditiously as possible. Accordingly, this appeal is disposed with a direction to the learned Presiding Officer, DRT-I, Ernakulam to dispose the SA 838/2024 as expeditiously as possible.

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In fine, this appeal is disposed directing the learned Presiding Officer, DRT-I, Ernakulam to dispose SA 838/2024 as expeditiously as possible. There shall be an order of interim stay against taking possession of the property for a period of one month from today. Thereafter, it is open to the learned Presiding Officer, DRT-I, Ernakulam to decide on continuance of the stay order or discontinuance depending on the need and exigency.

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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 7^th of October 2025)

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Sd/-

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(JUSTICE G. CHANDRASEKHARAN)

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CHAIRPERSON

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Car Tree Accessories Pvt. Ltd. v. State Bank of India

Case brief

What is this about?

What did the court decide?

Car Tree Accessories Pvt. Ltd. v. State Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

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