Mr R Kumar v. Canara Bank
Case brief
What is this about?
This single judge order allows the SARFAESI application filed by R. Kumar challenging a Sale Notice from Canara Bank that was issued to a deceased name. The court sets aside the notice and directs the bank not to debit expenses, allowing time for settlement.
What did the court decide?
Sale Notice dated 24.03.2022 set aside; Respondent bank directed not to debit sale notice expenses to the borrower's loan account; interim order vacated; other IAs closed.
What the court decided
1
S.A. 194 of 2022 07.09.2022
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 07th day of September, 2022
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 194 of 2022
Sh. R. Kumar, S/o.Mr. G. Radha No.13, pattai Street Vasistapuram Thittagudi Post & Taluk Cuddalore – 606 106
….Applicant
Vs.
The Authorised Officer
Canara Bank 1/266, Arivagam Building Ariyaloor Main Road Agaramsigoor – 621 108 ….Respondent
Counsels on record / appeared:
Issues for consideration
2 issues framed by the court
Whether the Sale Notice issued for auction of secured assets is valid when it was addressed to a dead person.
Whether the Debts Recovery Tribunal should set aside the Sale Notice to facilitate a negotiated settlement at an advanced stage.
Parties & counsel
- applicant
Sh. R. Kumar
- respondent
The Authorised Officer, Canara Bank
Coram
GANAPATHI K.R.K
Case details
As recorded by the court registry
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