A Lakshmi v. Indian Bank
Case brief
What is this about?
The Debts Recovery Tribunal dismissed an application challenging a SARFAESI sale notice. The bank proved compliance with Section 13(2) of the Act. As the sale failed due to lack of bidders, the tribunal held the application infructuous and disposed of it.
What did the court decide?
Application dismissed as infructuous; interim orders vacated; pending IAs closed.
What the court decided
1
S.A. 74 of 2022 23.08.2022
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 23rd day of August, 2022
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 74 of 2022
Ms.A.Lakhsmi
D/o.Mr.N.Arjunan No.2, Gangaiamman Koil Street Thattanchavady
Puducherry – 605 009 ….Applicant
Vs.
1. The Manager and Authorised Officer
Indian Bank
Stressed Assets Management Branch 55, Ethiraj Salai, Zonal Office Building II Floor Welloington Estate Egmore
Issues for consideration
3 issues framed by the court
Whether the SARFAESI sale notice was issued following the statutory procedure without infirmities.
Whether the application is maintainable given that the property sale failed for want of bidders.
Whether the applicant's representation of past defaults and criminal acquittal warrants staying the recovery process.
Parties & counsel
- applicant
Ms. A Lakhsmi
- respondent
The Manager and Authorised Officer, Indian Bank
- respondent
The Assistant Manager, Indian Bank Puducherry Branch
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court