The Debt Recovery Tribunal, Chennai, dismissed the SARFAESI application filed by the applicant seeking quashing of a possession notice issued by Yes Bank. The court found no tenable infirmities in the procedure followed by the respondent bank. No stay was granted.
SARFAESI Application dismissed without costs; interim stay vacated.
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.178 of 2022 20.04.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 20th day of April, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 178 of 2022
Mr.S.Punithavel, Prop. of M/s.ASR International, New No.12, Old No.20, Raja Street, Perambur, Chennai – 600 001.
….Applicant
Vs.
The Authorised Officer, Yes Bank Limited, Yes Bank Tower, One International Centre, Tower II, 15th Floor, Senapathi Bapat Marg, Elphinstone (W) Mumbai – 400 013.
Also at: 48, Nyaya Marg, Chanakyapuri, New Delhi – 110 021. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.R.Gunasekaran. Counsel for Respondent : M/s.T.K.M.Sai Krishnan.
ORDER
respondent bank for recovery of a sum of Rs.1,29,17,857.53p due as on 07.03.2022.
of documents evidencing the action taken by them under the Act.
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S.A.178 of 2022 20.04.2023
any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 20th day of April, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the Debt Recovery Tribunal (DRT) was justified in dismissing the SARFAESI application as the applicant could not point out any infirmities in the procedure adopted by the bank for issuing the
1 provisions across 1 enactments
Prop. of M/s ASR International
Authorised Officer, Yes Bank Limited
Shri Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
