Jaipaul v. Canara Bank
Case brief
What is this about?
In SF 85/2022, the Tribunal granted the applicant three months to close the loan account via negotiated settlement. Liberty was granted to proceed with recovery measures after 31.12.2022, pending settlement. All other pending matters stood closed.
What did the court decide?
Liberty granted to enter into negotiated settlement by 31.12.2022; liberty to proceed with recovery measures thereafter.
What the court decided
1
S.A. 85 of 2022 11.10.2022
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 11th day of October, 2022
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 85 of 2022
Mr.Jaipaul, S/o. Maigel, No.20, 13th Street, Vinabaji Nagar, Hasthinapuram, Chrompet, Chennai – 600 044. …Applicant
Vs.
The Authorised Officer, Canara Bank, Egmore II Branch, No.16, Police Commissioner Office Road, PB No.516, Egmore, Chennai – 600 008. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.R.K.M.Suresh, D.Adhitya Counsel for Respondent : M/s Dhuwaraka Associates
Issues for consideration
2 issues framed by the court
Whether to grant time to applicant for negotiated settlement despite alleged procedural defaults in service of notices.
Whether to dispose of the application pending Liberty provided for settlement.
Parties & counsel
- applicant
S/o. Maigel
- respondent
The Authorised Officer, Canara Bank, Egmore II Branch
Coram
Ganapathi K.R.K.
Case details
As recorded by the court registry
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