Disposed

Ms Iifl Home Finance Ltd. v. 1 Duraiswamy 2 Anbahazhi D

DRAT24 Jun 2025MISC APPLICATION/1/2025

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal disposed of a miscellaneous application filed by IIFL Home Finance Limited under Section 17(6) of the SARFAESI Act, granting a direction for the speedy disposal of a Section 17(6) stay application pending before the subordinate Debt Recovery Tribunal.

What did the court decide?

Direction to the Presiding Officer of DRT-III, Chennai to dispose of SA 74/2024 (Section 17(6) Application) expeditiously as per law.

Ms Iifl Home Finance Ltd. versus 1 Duraiswamy 2 Anbahazhi D — Banking and Recovery | DRAT (2025)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 24^th day of June, 2025

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

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Miscellaneous Application No.1/2025

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AIR 1859/2024

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(arising out of SA 74/2024 on the file of DRT-III, Chennai)

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Between

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IIFL Home Finance Limited Rep. by its Authorised Officer, Mr. Senthil Kumar, Had its branch Office at (as per SA 74/2024) No.1 Office No.3E, 3^rd Floor, Kencas Tower, above Croma Showroom, North Usman Road, Ramakrishna Street, T. Nagar, Chennai 600 017.

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Shifted to:

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5^th Floor, Sai Empire, United India Colony, First Cross, Kodambakkam, Chennai 600 024.

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…..Appellant

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And

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1. Mr. D. Duraiswamy, S/o Mr. Damodharan

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2. Mrs. Anbahazhi D. D/o Samykannu Gounder Rajangam

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Both are residing at:

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Flat No.8, Old Door No.6, New Door No.6, Harbabu Stree, Rangarajapuram, Chennai 600 024.

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…..Respondents

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Counsel for Appellant	: M/s V. Balasubramani & Co.
Counsel for Respondents	: Mr. G. Jeremiah

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ORDER

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This Miscellaneous Application is filed under Section 17(6) of SARFAESI Act

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seeking a direction for a speedy disposal of SA No.74/2024 on the file of DRT-III, Chennai.

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Learned Counsel for applicant and R1 & R2 are present.

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This Miscellaneous Application is filed praying for a direction to Learned Presiding Officer, DRT-III, Chennai to dispose of SA 74/2024 on the file DRT-III Chennai at the earliest.

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This SA 74/2024 was filed in the year 2024. Total number of cases pending on the file of DRT-III, Chennai, approximately as of now, is 5172.

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Therefore, when this matter is relatively a new matter, no fixed time frame can be fixed for disposal of the aforesaid SA. However, in view of the submission of Learned Counsel for applicant that after making paltry deposit for getting stay, respondents have not chosen to settle the dues with the applicant, this Tribunal is of the view that this Miscellaneous Application can be disposed of with a direction to the Learned Presiding Officer to dispose of the SA as expeditiously as possible. Accordingly, Learned Presiding Officer,

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DRT-III, Chennai is directed to dispose of SA 74/2024, as expeditiously as

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possible and in accordance with law.

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In the result, Miscellaneous Application No.1/2025 is disposed of, with the

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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 24^th Day of June, 2025)

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Sd/(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON

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Ms Iifl Home Finance Ltd. v. 1 Duraiswamy 2 Anbahazhi D

Case brief

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Ms Iifl Home Finance Ltd. v. 1 Duraiswamy 2 Anbahazhi D

Case brief

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