In a Section 17 application, the Debts Recovery Tribunal stayed physical possession action pending deposit of 10% amount within three days and service of notice on legal representative of deceased guarantor.
Further action regarding physical possession shall be kept in abeyance pending deposit of 10% of notice amount within three days.
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| Date of order or proceeding |
DEBTS RECOVERY TRIBUNAL, PATNA Order with the Signature of the Court |
Office action taken with data |
|---|---|---|
| SA 15 of2023 | ||
| 17.01.2023 | Ld. counsel for the respondent wants and granted time to file counter affidavit against the S. application. Ithas been pointed out on behalf of the applicant that SARFAESI Action has been initiated against the applicant in contravention of the provisions of SARFAESI Act and Rules. It has been further argued that one of the guarantors has already died. No notice has been served against the legal representative of the deceased guarantor. It has been further submitted that description of the property which has been mentioned as secured assets is wrong. Ld. counsel for the applicant further submitted that applicant is ready to settle the account with the respondent bank and to show seriousness for offer, he wants to deposit 10% of the notice amount within three days. In such circumstances, in case, the applicant deposits 10% of the notice amount within three days, the further action on behalf of the respondent bank regarding physical possession shall be kept in abeyance till next date. Put up on 24.1.2023 for hearing. Order be uploaded on the Tribunal's website. ~// Patna (Kaushalendra Yadav) Presiding Officer |
2 issues framed by the court
Whether the SARFAESI action can be stayed pending notice to legal representative of deceased guarantor and deposit of 10% amount.
Whether the description of secured assets mentioned by bank is correct.
Applicant
Respondent Bank
Kaushalendra Yadav
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
