Allowed

Punjab National Bank (United Bank of India) v. M/s Shree Durga Traders and Others

DRT17 Oct 2022OA/196/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal set aside the respondent bank's SARFAESI action initiated under Sections 13(2) and 13(4) of the Act. This decision was based on the bank's failure to reply within the statutory fifteen-day period to the applicant's representation under Section 13(3-A) of the Act.

What did the court decide?

The SARFAESI action initiated under Section 13(2) dated 6.12.2019 and Section 13(4) dated 24.5.2022 is set aside. S.A. No. 196/2022 is allowed.

Punjab National Bank (United Bank of India) versus M/s Shree… — Banking and Recovery | DRT (2022)

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Date of order or proceeding	DEBTS RECOVERY TRIBUNAL, PATNA Order with the Signature of the Court	Office action taken with data
	SA 196 of 2022 Ramdhyan Singh Vs Punjab national Bank Present: Shri Anjani Kr. Singh Ld. counsel for the applicant Shri Prashant Kumar ld. counsel for the respondent.
17.10.2022	I have heard the ld. counsel for the parties. Ld. counsel for applicant submits that the respondent bank has not followed the mandatory provisions of the SARFAESI Act and rules while initiating S. Action against the applicant. Ithas been pointed out by the applicant that the alleged notice U/S 13(2) of the SARFAESI Act was issued on 6.12.2019 which is annexure -5 of the SA. On that the applicant has filed representation 13(3-A) of the SARFAESI Act before the bank but the bank did not given reply within the statuary period as mandatory requirement to reply within fifteen days and the alleged reply has been sent on 18.1.2020which is annexure -7 of the SA~ after expiry of statutory period. , In such circumstances, the SARFAESI Action initiated U/S 13(2) of SARFAESI Act dated 6.12.2019 and U/S 13(4) of .the SARFAESI Act dated 24.5.2022 is set aside. Accordingly the S. application no. 196/2022 is allowed. In this case no physical possession has been taken by the respondent bank so far. Therefore there is no order for compensation&cost. Consign the record. A copy of order be sent to the parties. Order to be uploaded on the Tribunal's website. _Wv~_ (Kaushalendra Yadav) Presiding Officer Patna	VV

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Punjab National Bank (United Bank of India) v. M/s Shree Durga Traders and Others

Case brief

What is this about?

What did the court decide?

Punjab National Bank (United Bank of India) v. M/s Shree Durga Traders and Others

Case brief

What is this about?

What did the court decide?

What the court decided

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