Allowed

Indian Overseas Bank v. Sri Kalaivani Spinners Private Limited

DRAT14 Aug 2026TRANSFER PETITION/12/2026

Case brief

AI extract

What is this about?

This transfer petition sought to move a securitization application from the DRT, Coimbatore to the DRT, Madurai on grounds of apparent bias. The DRT allowed the petition, transferring the case due to the Presiding Officer's appearance for the bank in a writ petition.

What did the court decide?

TP 12/2026 is allowed; SA 1117/2025 is transferred to DRT, Madurai for disposal.

Indian Overseas Bank versus Sri Kalaivani Spinners Private… — Banking and Recovery | DRAT (2026)

¶1

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

¶2

Dated the 14^th Day of August, 2026

¶3

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

¶4

TP 12/2026

¶5

(Arising out of SA 1117/2025 on the file of DRT, Coimbatore)

¶6

Between

¶7

The Authorized Officer, Indian Overseas Bank, ARM Branch, 11/952, Cross Cut Road, Gandhipuram, Coimbatore 641 018. …Applicant

¶8

And

¶9

M/s. Sri Kalaivani Spinners Private Limited, 56 Raja Annamalai Road, Saibaba Colony, Coimbatore 641 0011. …..Respondent

¶10

Counsel for Applicant : M/s. V. Rajeswari Counsel for respondents : M/s . Ramani & Shankar

¶11

ORDER

¶12

This transfer petition is filed for transferring the SA 1117/ 2025 from DRT,

¶13

Coimbatore to any other DRT on the ground that in a writ petition filed in WP

¶14

No. 5042 of 2023 before the Hon’ble High Court of Judicature, Madras by the

¶15

respondent, the learned incumbent Presiding Officer, Mr.N.Somasundar, had

¶16

appeared for the respondent-bank in the writ petition, who is the respondent

¶17

in the securitization application and thus, it may not appropriate that this SA

¶18

¶19

1117/2025 be tried and decided by the learned Presiding Officer viz., Mr.N.Somasundar.

¶20

Learned counsel for the respondent concedes that Mr.N.Somasundar,

¶21

learned Presiding Officer, appeared for the petitioner herein/ respondent-bank in the writ petition in WP No.5042/2023.

¶22

In view of earlier appearance of the learned incumbent Presiding

¶23

Officer for the respondent-bank in WP No.5042/2023, this Tribunal is of the view that it is not appropriate and proper for Mr.N.Somasundaar, learned Presiding of the DRT, Coimbatore to try and decide the SA 1117/2025. Therefore, this TP 12/2026 is allowed and the SA 1117/2025 is ordered to be transferred to DRT, Madurai for disposal in accordance with law.

¶24

The Registry of DRT, Coimbatore is directed to send the records in SA

¶25

1117/2025 with proper index to the DRT, Madurai within a period of two weeks

¶26

from the date of receipt of a copy of this order.

¶27

Accordingly, this Transfer Petition 12/2026 is allowed.

¶28

Parties are directed to bear their own costs.

¶29

[Dictated to Steno (ra) in open court, transcribed by her, corrected and signed by me, this 14^th day of August, 2026)

¶30

Sd/- [Justice G. Chandrasekharan] CHAIRPERSON

¶31

Indian Overseas Bank v. Sri Kalaivani Spinners Private Limited

Case brief

What is this about?

What did the court decide?

Indian Overseas Bank v. Sri Kalaivani Spinners Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Hsbc Bank Ltd. versus P M Kunjubava

T Samraj versus Indian Overseas Bank

Gayathri versus Equitas Small Finance Bank Limited

R Magesh versus Edelweiss Asset Reconstruction Company Limited

Mrs Jagadhambal rep by Poa Holder Mr Aroon Ramadoss versus City Union Bank Limited

Hinduja Leyland Finance Ltd. versus Pratheesh Krishna