The Tribunal set aside SARFAESI actions, including an impugned sale notice and auction sale, after the applicant proved full discharge of debt. The mortgage was extinguished, and the bank was ordered to return auction proceeds and original documents.
SARFAESI actions, impugned sale notice, and auction sale set aside; bank to return bid amount and original documents.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
1
S.A. 337 of 2022 22.08.2022
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 22nd day of August, 2022
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 337 of 2022
Dinesh Krishnan S/o.S.Narasimhan M/s.Sri N V S Agencies No.119/3, Bangalore Highway Mambakkam Village Sriperumbudur Taluk Kancheepuram – 602 106 ….Applicant
Vs.
The Authroised Officer South Indian Bank Limited Regional Office Chennai No.43, Ground Floor Hameedia Centre Haddows Road Nungambakkam Chennai – 600 006 ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.B.Rajesh & R.Kannan Counsel for Respondent : Mr.M.L.Ganesh
ORDER
2
S.A. 337 of 2022 22.08.2022
3
S.A. 337 of 2022 22.08.2022
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 22nd day of August, 2022)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
3 issues framed by the court
Whether the SARFAESI action and impugned sale can be set aside upon full discharge of debt by the applicant.
Whether the mortgage of the property stands extinguished upon redemption.
Whether the auction sale conducted in compliance with the sale notice can be vacated after the applicant's debt was acknowledged and discharged.
1 provisions across 1 enactments
Dinesh Krishnan
The Authorised Officer, South Indian Bank Limited
Shri Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
