Allowed

Ramdhyan Singh v. Punjab National Bank

DRT17 Oct 2022SA/196/2022

Case brief

AI extract

What is this about?

In SA 196 of 2022, Debts Recovery Tribunal allowed the application set aside SARFAESI action initiated under Sections 13(2) and 13(4) due to the respondent bank's failure to reply within the mandatory fifteen-day statutory period to the applicant's representation under Section 13(3-A).

What did the court decide?

SARFAESI action initiated under Section 13(2) and 13(4) set aside. Application allowed. No compensation or cost order made as no physical possession was taken.

Ramdhyan Singh versus Punjab National Bank — Company and Corporate | DRT (2022)

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-D-a-t-e-o--:f::-o-r or proceeding	DEBTS RECOVERY TRIBUNAL, PATNA -d::-e-r-----r---------=-===-~--=-==--=-Ord-;:e:..:r:...::..w-=-l;-=·th;--=-=;th=e:..:...::.....::: Signature of the Court	:____:_z----------~61 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 uls 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 SARF AESI 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 18.1.2020 which is annexure -7 of the SA~ after expiry of statutory period. , In such circumstances, the SARF AESI Action initiated uls 13(2) of SARFAESI Act dated 6.12.2019 and uls 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. Patna W\e<br>(Kaushalendra Yadav Presiding Officer

Ramdhyan Singh v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

Ramdhyan Singh v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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