K Haris v. Idbi Bank
Case brief
What is this about?
The Tribunal dismissed an application challenging the validity of demand notices, asset classification as NPA, and possession orders under the SARFAESI Act. The court held that the defendants complied with statutory requirements and the impugned orders were not flawed.
What did the court decide?
The Securitization Application was dismissed and no costs were awarded to the parties.
What the court decided
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL - 1 AT ERNAKULAM
DATED THIS 17th DAY OF OCTOBER, 2023
PRESENT: Su. WILLYAHM, B.Sc., M.L. [DISTRICT JUDGE - Retd] PRESIDING OFFICER
S.A No. 128 of 2023
Between
K. Haris, S/o. Moidu, Kuningarath, Harinagar, Madiyoor, Kalpetta, Wayanad – 673 121.
--- Applicant
And
- IDBI Bank Limited, Kalpetta Branch, Kalpetta Business Centre, Ground Floor, Kalpetta Bypass Junction, Vythiri, Wayanad-673 121 Rep. by its Manager.
- The Regional Manager, IDBI Bank Limited, Regional Office, City Plaza, 2nd Floor, YMCA Cross Road, Kozhikode -673 001.
Issues for consideration
3 issues framed by the court
Whether the details provided in the Section 14 affidavit were sufficient to comply with Section 14(1) of the SARFAESI Act.
Whether the Secretary/Defendants proved proper service of the Section 13(2) demand notice on the applicant.
Whether the applicant is entitled to the reliefs sought in the Securitization Application.
Parties & counsel
- applicant
K. Haris
- respondent
IDBI Bank Limited
Coram
Su. WILLYAHM
Case details
As recorded by the court registry
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