Remanded

Hsbc Bank v. Venkat Raman Karaventingaram

DRAT23 Jul 2025REGULAR APPEAL/63/2024

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal (DRAT) dismissed the appeal and remanded the matter to the lower Debt Recovery Tribunal (DRT). The case was pending on a Securitisation Application where DRT had stayed proceedings due to discrepancies in affidavits regarding the Authorised Officer. The DRAT directed the lower court to decide the Securitisation Application on merits. Disposition

What did the court decide?

The matter was remanded to the Learned DRT Visakhapatnam to decide the Securitisation Application (S.A. No. 388 of 2024) on merits within six weeks.

Hsbc Bank versus Venkat Raman Karaventingaram — Company and Corporate | DRAT (2025)

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Reportable/Non-Reportable

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Misc. Appeal No.63 of 2024 -DRAT-Kolkata

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT

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KOLKATA

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HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

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Misc. Appeal No. 63 of 2024 (Arising out of I.A. No. 2297 2024 in S.A. No. 388 of 2024 in DRT, Visakhapatnam)

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The Federal Bank Ltd., LCRD, Hyderabad, H. No. 8-3-903/10, Plot No. 20, 4^th Floor, GVR Legend, Nagarjuna Nagar Colony, Yella Reddy Guda, Hyderabad, Telangana, 500004.

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.…Appellant

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-Versus-

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1. Mrs. K. Swarna Gowri Man Nagar, Murali Nagar, Visakh	i 39-9-9/2/2 GMR Residency, Tenneti apatnam 530007. ….Respondents
Counsel for Appellants	Ms. Aparajita Rao, Ms. Nabanita Dutta
Counsel for Respondents	Mr. Nemani Srinivas
JUDGMENT	: 23^rdJuly, 2025

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THE APPELLATE TRIBUNAL :

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Heard the Learned Counsel for the parties and perused the record.

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2. Instant Appeal has arisen against an order dated 08.08.2024 passed by Learned DRT Visakhapatnam in I.A. No. 2297 of 2024 arising out of S.A. No. 388 of 2024 whereby the Learned DRT allowed the I.A. No. 2297 of 2024

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Misc. Appeal No.63 of 2024-DRAT-Kolkata and stayed further proceedings and fixed the matter for final arguments on 11.09.2024. 3. It appears that the proceedings were stayed by the Learned DRT on a technical ground of appointment of the Authorised Officer on the pretext that Application under Section 14 of the SARFAESI Act, 2002 (hereinafter referred to as the Act) was filed by one person alleging himself to be the Authorised officer while the counter affidavit filed before the Learned DRT was filed by some other person showing him to be the Authorised Officer. On this count alone, Learned DRT stayed the further proceedings. Without entering into the merits of the matter, since these pleadings are complete in the pending Securitisation Application, I found it appropriate that the matter be remanded back to Learned DRT to decide the Securitisation Application on merits in accordance with law. All the points if any, to be raised by the parties are kept open. Accordingly, Appeal stands disposed of.

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ORDER

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Appeal is disposed of with the direction to the Learned DRT Visakhapatnam to decide the S.A. No. 388 of 2024 within a period of six weeks from the date of copy of the order is received without granting any unnecessary adjournment to either of the parties. Parties are directed to appear before the Learned DRT Visakhapatnam on 6^th August, 2025 for hearing.

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No Order as to costs.

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Misc. Appeal No.63 of 2024-DRAT-Kolkata

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File be consigned to Record Room. Copy of the Judgment/ Final Order be uploaded in the Tribunal’s Website.

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Order signed and pronounced by me in the open Court on this the 23^rd day of July, 2025.

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(Anil Kumar Srivastava,J) Chairperson

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Dated 23^rd July, 2025

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10 /tp

Hsbc Bank v. Venkat Raman Karaventingaram

Case brief

What is this about?

What did the court decide?

Hsbc Bank v. Venkat Raman Karaventingaram

Case brief

What is this about?

What did the court decide?

What the court decided

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