Disposed

M s Sri Raghuvir Timber And Plywoods Pvt. Ltd. v. Hdfc Bank

DRT29 May 2023SA/124/2023

Case brief

AI extract

What is this about?

In a Section 14 SARFAESI application filed by a third-party tenant, the Tribunal declared the application closed and disposed of the matter without costs after the applicant submitted that their tenancy had ended, rendering the proceedings infructuous.

What did the court decide?

The SARFAESI application was closed and disposed of without costs; interim orders were vacated.

M s Sri Raghuvir Timber And Plywoods Pvt. Ltd. versus Hdfc Bank — Banking and Recovery | DRT (2023)

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S.A.124 of 2023 29.05.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 29^th day of May, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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SARFAESI APPLICATION No. 124 of 2023

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M/s.Sri Raghuvir Timber & Plywoods Private Limited, Rep. by its Director

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Shri Dinesh K.Patel, S/o.Shri Karamshi M.Patel, Flat No.B-1 First Floor, No.105/3, Sydenhams Road,

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Chennai – 600 003. ….Applicant

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Vs.

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HDFC Bank Limited, Department for special operations, Prince Khushal Towers, 7^th Floor, B-wing, No.96, Anna Salai,

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Chennai – 600 002.

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M/s.Sri Murali Krishna & Co., Rep. by its partners rep. by Ratanshi M. Patel, No.85, G.N.T. Road, Kanakachatiram, Chennai – 600 110. ….Respondents

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Counsels on record / appeared:

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Counsel for Applicant : M/s.G.Pramila. Counsel for 1^st Respondent : M/s.T.N.Karthikeyan.

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ORDER

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This SA is filed by third party tenant challenging the measures initiated by

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respondent bank under Section 14 of SARFAESI Act before Ld. CMM, Egmore in

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S.A.124 of 2023 29.05.2023

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Crl.M.P. No. 19070 of 2021 dated 14.06.2022 for recovery of a sum of Rs.22,77,24,166/-

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A memo vide SR No.5652/23 dated 09.05.2023 is filed on behalf of applicant submitting therein that this SA is filed by applicant in their capacity as tenants and as applicant’s tenancy has come to end on 31.03.2023, applicant ceased to be a tenant in the schedule premises and thus the SA has become infructuous. Thus submitting Ld. counsel prayed for dismissing the SA as withdrawn and pass necessary orders.

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Copy of memo is sent by post to other side and postal receipts evidencing the same is enclosed along with memo.

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Heard Ld. counsels appearing for the respective parties. Ld. counsel for respondent bank submitted that Advocate Commissioner has already issued notices to take physical possession of the property and also informed the police for assistance in case of any eventuality.

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Hence considering the memo filed on behalf of applicant and also in view of the letter addressed to the respondent bank by applicant, this SA is closed, however without costs. Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.

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With the above observations, this SA stands disposed.

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S.A.124 of 2023 29.05.2023

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A copy of the order be communicated to the parties concerned as per extant

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guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 29^th day of May, 2023)

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Sd/-

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(GANAPATHI K.R.K)

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PRESIDING OFFICER

M s Sri Raghuvir Timber And Plywoods Pvt. Ltd. v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

M s Sri Raghuvir Timber And Plywoods Pvt. Ltd. v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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