Vasantha v. Indian Bank
Case brief
What is this about?
The debtor recovered the possession of mortgaged property after the bank failed to appear or file counter-affidavit after receiving a notice under Section 13(4) of SARFAESI Act for recovery.
What did the court decide?
Possession restored to mortgagor; liberty granted to respondent bank to initiate action afresh if borrower default continues; interim stay vacated and other pending IAs closed.
What the court decided
1
S.A. No.216 of 2022 12.07.2022
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 12th day of July, 2022
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 216 of 2022
Mrs.Vasantha W/o.Caliappane No.29, Periyar Nagar Street Dhanakodi Thottam Manaveli, Ariyankuppam Puducherry – 605 007 ….Applicant
Vs.
Indian Bank Rep. by its authorised Officer No.70, Cuddalore Main Road Mudaliarpet, Puducherry – 605 004 ….Respondent
Counsel for Applicant : M/s.D.Adhitya
ORDER
- This SA is filed challenging the Possession Notice dated 23.03.2022 issued by respondent bank under Section 13(4) of SARFAESI Act for recovery of a sum of Rs.76,34,673.13p from applicant.
Parties & counsel
- applicant
Mrs. Vasantha W/o. Caliapane
- respondent
Indian Bank Rep. by its authorised Officer
Coram
GANAPATHI K.R.K
Case details
As recorded by the court registry
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