Allowed

Lakshmi Prabhavathi a Wife of Sukumaran v. Punjab National Bank

DRT4 May 2023SA/199/2023

Case brief

AI extract

What is this about?

This three-judge bench of the Debts Recovery Tribunal, Chennai, allowed a section 17 application challenging an auction notice. Due to respondent absence, the order set aside the sale notice dated 15.03.2023 and prohibited debiting auction expenses, granting liberty to proceed further if default continues.

What did the court decide?

Sale notice dated 15.03.2023 set aside; respondent directed not to debit sale notice expenses to loan account; liberty to proceed further if default continues.

Lakshmi Prabhavathi a Wife of Sukumaran versus Punjab National… — Banking and Recovery | DRT (2023)

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S.A. 199 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. 199 of 2023

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Mrs.Lakhsmi Prabhavathy.S W/o Mr.M.Sukumaran No.11a, 33A, 8^th Main Road Kastuibai Nagar, Adyar Chennai – 600 020

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2. M.Sukumaran

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S/o Late Munusamy No.39/2 Vanjinathan 1^st Street Perambur

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Chennai – 600 011

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3. Mr.S.Mohanakrishnan

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S/o Mr.M.Sukumaran No.39/2 Vanjinathan 1^st Street Perambur Chennai – 600 011

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….Applicants

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Vs.

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The Authorised Officer, Punjab National Bank Circle Sastra Centre, Chennai North Spencer Plaza, Ground Floor 769 Anna Salai Chennai – 600 002. ….Respondent

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Counsels on record / appeared:

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Counsel for Applicants : M/s.K.C.Krishnamoorthy & S.V.Badriah Counsel for Respondent : M/s.M.Arunachalam & M.Nagalakshmi.

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S.A. 199 of 2023 04.05.2023

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ORDER

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This SA is filed challenging the E-Auction Sale Notice dated 15.03.2023 issued by respondent bank scheduling sale to 06.04.2023 for recovery of a sum of Rs.26,00,385.81p.

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Ld.Counsel for applicant filed AOS and memo reporting compliance of conditional order. No representation on behalf of respondent bank. Hence, respondent bank called absent and set ex-parte.

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In the result, this SA stands allowed, however without costs. Consequently, Sale notice dated 15.03.2023 scheduling sale to 06.04.2023 is set aside. Respondent bank is directed not to debit the sale notice expenses to the borrowers loan account. However, liberty be with respondent bank to proceed further in accordance to law if the default of the borrower continues. 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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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/- (GANAPATHI K.R.K)

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PRESIDING OFFICER

Lakshmi Prabhavathi a Wife of Sukumaran v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

Lakshmi Prabhavathi a Wife of Sukumaran v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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