Allowed

Mr N Thiruvengadam v. M s Orix Leasing And Financial Services India Limited

DRT4 May 2023SA/146/2023

Case brief

AI extract

What is this about?

Secure debtor application allowed permitting third-party lessee to remove belongings by 31.05.2023 subject to two days notice to secured creditor for unlocking premises, with institution directed to cooperate for safe removal. Order disposed of without costs.

What did the court decide?

Applicant permitted to remove belongings by 31.05.2023 subject to 2 days notice for unlocking; Respondent directed to cooperate for safe removal.

Mr N Thiruvengadam versus M s Orix Leasing And Financial… — Banking and Recovery | DRT (2023)

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S.A. 146 of 2023 04.05.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 04^th day of May, 2023

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Present: Shri Ganapathi K.R.K. Presiding Officer

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SARFAESI APPLICATION No. 146 of 2023

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Mr.N.Thiruvengadam

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S/o Mr.Natesa Mudaliar No.1/8, First Street Kambar Nagar, Madhuravoyal Chennai – 600 095 ….Applicant

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Vs.

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1. The Authorised Officer

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M/s.Orix Leasing & Financial Services India Ltd SP4, SIDCO, Thiru-vi-ka Industrial Estate Guindy

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Chennai – 600 032

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2. Y.Neethyarajan

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Door No.1, First Cross Street Kambar Nagar Chennai – 600 095

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….Respondents

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Counsels on record / appeared:

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Counsel for Applicants : M/s. Ramesh Bhat.K & Krishnamoorthy.V Counsel for Respondent : M/s. S.K.Mariyappan, R.Chandramohan & S.Ram Prasad

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ORDER

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This SA is filed by third party lessee challenging the measures initiated by respondent bank under Section 14 of the Act pursuant to order passed by Hon’ble CJM, Tiruvallur in Crl.M.P.No.3835/2021 dated 07.11.2022.

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Heard Ld.Counsels appearing for both the parties.

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S.A. 146 of 2023 04.05.2023

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It is the case of applicant that they are tenants in the mortgage property and that pursuant to the order of the Ld. CJM dated 07.11.2022, respondent / secured creditor has taken physical possession of the property while their household belongings are still left inside. Ld. Counsel for applicant submits that reasonable time may be granted to them for removing their belongings from the said premises, since they have already moved out of the said premises. Ld.Counsel for respondent institution has consented for the same.

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Today a memo came to be filed suggesting that applicant is willing to remove their belongings by or before 31.05.2023 and hand over vacant possession of the property. Copies of the memo are duly served on the Ld.Counsel appearing for respondent financial institution.

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In the result, as applicant intend to remove their belongings by or before 31.05.2023, they are permitted to do so subject to 02 days prior notice to the secured creditor to open the locks so as to enable them to remove their articles. Respondent financial institution is directed to cooperate with the applicant for safe removal of their belongings.

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In the result, SA stands allowed, 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 directions, this SA stands disposed

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S.A. 146 of 2023 04.05.2023

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

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(Dictated to Stenographer (DD), transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 04^th day of May, 2023)

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Sd/-

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(GANAPATHI K.R.K) PRESIDING OFFICER

Mr N Thiruvengadam v. M s Orix Leasing And Financial Services India Limited

Case brief

What is this about?

What did the court decide?

Mr N Thiruvengadam v. M s Orix Leasing And Financial Services India Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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