Dismissed
K Kaliyaperumal v. Tamilnad Mercantile Bank Limited
DRTSA/50/2022
Case brief
AI extract
What is this about?
This Debts Recovery Tribunal application challenged a sale notice issued by the respondent bank. The Tribunal found the application devoid of merits as it only sought time for settlement, noting the applicant failed to remit the balance amount. The sale program was not cancelled due to payment of some amount and lack of bidders. The application was dismissed.
What did the court decide?
Sale notice dismissed; applicant allowed to negotiate settlement by 31.12.2022; respondent entitled to proceed further thereafter.