The Tribunal disposed of the appellant's appeal by modifying the interim order requiring payment. Instead of 50% of the claim, the appellant is directed to pay 25% by 19.5.2026 to enable the stay application to be considered on merits.
Appellant directed to pay 25% of Rs. 83,03,337.56 by 19.5.2026; DRT to consider Stay Application on merits.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI Dated the 21st day of April, 2026
PRESENT: HON’BLE MR. JUSTICE G. CHANDRASEKHARAN CHAIRPERSON
MA (SA) 33/2026 (arising out of IA No. 3430/2025 in SA 677/2025 on the file of DRT, Madurai)
Between
P. Punitha, W/o. Kalister, 4/97G, Thickavilai, Midalakadu, Palapallam Post, Pin – 629 159 Kanyakumari District
….. Appellant
And The Authorised Officer, Canara Bank, ARM Branch, St. Mary’s Campus, Circle Office, First Floor, East Veli Street, Madurai - 625001 Counsel for appellant : M/s. Shraddha & Saburi & Co. Counsel for Respondent : Mr. M. Muthukumaran
….. Respondent
ORDER
Learned Counsel for both sides are present.
This appeal is filed against the Interim Order dated 29.8.2025 passed in IA 3430/2025
by Learned Presiding Officer, DRT, Madurai. The main SA 677/2025, which was filed to set aside the e-auction sale notice dated 25.7.2025, is still pending.
It is given to understand that without complying any of the conditions imposed by Learned Presiding Officer, DRT, Madurai to pay 50% of the claim amount of Rs.83,03,337.56 in four equal instalments, this appeal is filed.
Therefore, this Tribunal is of the view that this appeal can be disposed by modifying the order of the Learned Presiding Officer, DRT, Madurai.
Thus, instead of paying 50% of Rs.83,03,337.56 to the Respondent Bank, the Petitioner is directed to make payment of 25% of Rs.83,03,337.56 on or before four weeks i.e., by 19.5.2026. If such a payment is made, Learned Presiding Officer, DRT, Madurai is directed to consider the Stay Application on merits.
Accordingly, this appeal MA (SA) 33/2026 is disposed. Pending IAs, if any, stands closed. Both Parties are directed to bear their own costs.
Sd/-
(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON
1 issue framed by the court
Whether the appeal against the interim order of the DRT should be allowed by modifying the payment conditions.
P. Punitha
The Authorised Officer, Canara Bank
G. Chandrasekharan
As recorded by the court registry
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