The Sardha Recovery Tribunal dismissed the SARFAESI application filed by an appellant challenging measures taken by a financial institucion under Section 14 for recovery of dues. The appellant conceded there were no procedural infirmities and sought a negotiated settlement.
APP slides dismissed without costs; liberty to settle loan account by 30.09.2023.
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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S.A. 134 of 2022 16.08.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 16th day of August, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 134 of 2022
Mr.G.Ravanan S/o Late Mr.S.Gnanasundaram Flat No.A-2, Crescendo Apartments Door No.26, Desika Road, Mylapore Chennai – 600 004 ….Applicant
Vs.
The Authorised Officer
Sundaram Home Finance Limited No.21, Pattulos Road Chennai – 600 002 ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. Antony.L.X.Selvam, R.K.M.Suresh & Adithya.D Counsel for Respondent : M/s. K.Sukumar, G.VijayaAnand & R.Chandramohan
ORDER
14 of SARFAESI Act before Chief Judicial Magistrate, Nagapattinam in Crl. M.P.
No.5339/2021 dated 30.12.2021, for recovery of a sum of Rs.1,83,84,501/-.
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S.A. 134 of 2022 16.08.2023
that applicant is ready and willing to approach respondent for a negotiated settlement and prayed time for settling the loan account.
by or before 30.09.2023. Respondent institution will be at liberty to proceed further in accordance to law, if the default of the borrower continues beyond 30.09.2023.
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S.A. 134 of 2022 16.08.2023
(Dictated to Steno (DD), transcribed by her, corrected, signed and pronounced by me in open court, on this the 16th day of August, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
2 issues framed by the court
Whether to grant leave to challenge the measures initiated by the respondent under Section 14 of the SARFAESI Act.
Whether there are any infirmities in the procedure adopted by the financial institution warranting interference by the Tribunal.
1 provisions across 1 enactments
G.Ravanan
The Authorised Officer, Sundaram Home Finance Limited
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
