The Debt Recovery Tribunal allowed a single applicant based on the respondent bank's admission that the secured asset was agricultural land, thereby precluding SARFAESI action.
SA/136/2022 allowed and disposed of because the bank admitted the asset is agricultural land and renounced SARFAESI action.
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.
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/136/2022 MALA DEVI Vs PUNJAB NATIONAL BANK
15.11.2023 Item No.72
Present: Sh. Yogesh Kumar & Sh.Bharat Kawal, Counsel for the Applicant.
Sh.Arvind Rajotia, Counsel for respondent bank.
Mr.Rajotia, counsel for respondent bank states that bank admits that the secured asset is a agricultural land and accordingly bank would not initiate any SARFAESI action against the applicant. In view of this, SA is allowed and disposed of accordingly.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
MANOJ
Mala Devi
Punjab National Bank
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
