Allowed

N Amutha v. Mahindra Rural Housing finance Ltd.

DRT23 Aug 2022SA/122/2022

Case brief

AI extract

What is this about?

SARFAESI Application challenging a possession notice issued by Mahindra Rural Housing Finance Ltd. The Respondent declined to file a counter. The Tribunal allowed the application, set aside the notice, restored possession to the mortgagor, and directed non-debiting of recovery expenses.

What did the court decide?

Possession notice dated 25.01.2022 set aside; possession restored to mortgagor; Respondent directed not to debit SARFAESI expenses.

N Amutha versus Mahindra Rural Housing finance Ltd. — Banking and Recovery | DRT (2022)

¶1

¶2

S.A. 122 of 2022 23.08.2022

¶3

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶4

Dated this the 23^rd day of August, 2022

¶5

Present: Shri Ganapathi K.R.K. Presiding Officer

¶6

SARFAESI APPLICATION No. 122 of 2022

¶7

1. Mrs.N.Amutha

¶8

No.214, Main Road, Pottaveli Mannipallam, Sethur SRK Sethur, Mayiladuthurai Nagapattinam – 609 112

¶9

2. Mr.N.Aravind

¶10

No.214, Main Road, Pottaveli Mannipallam, Sethur SRK Sethur, Mayiladuthurai Nagapattinam – 609 112

¶11

3. Mr.M.Nagarajan

¶12

No.214, Main Road, Pottaveli Mannipallam, Sethur SRK Sethur, Mayiladuthurai Nagapattinam – 609 112 ….Applicants Vs.

¶13

The Authorised Officer

¶14

Mahindra Rural Housing Finance Ltd 2^nd Floor, Mahindra Tower Sadhana House, 570 PH Marg Worli, Mumbai – 400 018 ….Respondent

¶15

Counsels on record / appeared:

¶16

Counsel for Applicants : M/s. J.Kamaraj Counsel for Respondent : M/s. A.Damodaran

¶17

ORDER

¶18

This SA is filed challenging the Possession Notice dated 25.01.2022 issued by respondent financial institution for recovery of a sum of Rs.5,29,257/-.

¶19

¶20

S.A. 122 of 2022 23.08.2022

¶21

Respondent financial institution entered appearance and sought time from the last two adjournments for filing counter and typed set of documents. However, today a memo came to be filed on behalf of respondent institution submitting therein that respondent institution do not prefer to file any counter in this SA and prayed for passing necessary orders. Copy of memo is served to Ld. counsel appearing for applicant.

¶22

Heard. Memo filed on behalf of respondent institution is taken on record. In the circumstances, as respondent institution did not prefer to file their counter and typed set of documents evidencing the actions taken by them under the Act, this SA is allowed. Possession Notice dated 25.01.2022 is hereby set aside and possession is restored to mortgagor. Respondent institution is directed not to debit the SARFAESI expenses to the borrower’s loan account.

¶23

Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.

¶24

With the above directions, this SA stands disposed.

¶25

A copy of the order be communicated to the parties concerned as per extant guidelines.

¶26

(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 23^rd day of August, 2022)

¶27

Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

N Amutha v. Mahindra Rural Housing finance Ltd.

Case brief

What is this about?

What did the court decide?

N Amutha v. Mahindra Rural Housing finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

M K Agencies versus Canara Bank

Mr Dinesh Kishnan versus South Indian Bank

The Cosmos Co. operative Bank Ltd. versus Sri Muthumariamman Container

A Lakshmi versus Indian Bank

Mrs a Malathi versus Indian Bank

Latha M versus Cholamandalam Investment and Finance Company Ltd.