The Debt Recovery Tribunal dismissed a SARFAESI application challenging a sale notice and auction. The Tribunal held the applicant failed to prove infirmities in the bank's procedure and did not comply with an undertaking to deposit Rs. 10 Lakhs.
Sale notice and fixed auction date are upheld; SA dismissed without costs; interim orders vacated.
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.
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SA No. 121 of 2023
10.08.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 10th day of August, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 121 of 2023
K. Lalitha D/o. S. Natarajan, Flat No. F-1, First Floor, Aashrwadha Breeze Apartments, Plot No.1, Subrayan Nagar, Thiruneermalai Road, Chromepet, Chennai – 600 044. ….Applicant Vs.
Counsels on record / appeared:
Counsel for Applicant : M/s. J.J.R. Edwin Counsel for Respondents : M/s. Rahul Jain
ORDER
Auction Sale on 28.02.2023 issued by respondent bank for recovery of a sum of Rs.2,05,30,240.43p.
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SA No. 121 of 2023
10.08.2023
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SA No. 121 of 2023
10.08.2023
(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 10th day of August, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant could raise tenable infirmities in the procedure followed by the bank while issuing the sale notice.
Whether the applicant proved her bonafides by causing payments to the credit of the loan account as undertaken.
K. Lalitha
The Authorized Officer, Punjab National Bank
Shri K. Senapathy
GANAPATHI K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
