P Divya v. Hdfc Bank
Case brief
What is this about?
The Debts Recovery Tribunal dismissed an application seeking to set aside possession taken by a bank under the SARFAESI Act. The court found the loan did not have active insurance coverage and notices were deemed served, thus rejecting the applicant's grounds.
What did the court decide?
Application to set aside measures initiated including taking physical possession of the schedule property is dismissed.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-IIAT HYDERABAD
DATED THIS THE 3OIII DAY OFOCTOBER, 2023
PRESENT: SH. RAMESHWARKOTHE,B.COM,L'LB'(HONS.), M.A. PRESIDING OFFICER
Securitization ApplicationNo' 2O1 OF 2022
P. Divya D/o Pamishetti Balashouri & Susheela Aged 26years H.No.3-2911/4, Plot No.34 South Sy.No.257A, KammagudaColony Turkyamjal Village Hayathnagar Mandal - RangaReddyDistrict 501 510
.......APPlicant'
Versus
- M/s Housing DevelopmentFinanceCorporationLtd. (A company incorporated under the Companies Act,1956) Rep. by its ManagingDirector having Regd. Office at Ramon House, H T ParekhMarg 169, Backbay Reclaimation
Churchgate - Mumbai -400020
- Branch lYanager Housing DevelopmentFinanceCorporationLtd. Anand Chambers, D. No.16- 11-764 Near Anand Nilayam,Moosarambagh Dilsukhnagar, Hyderabad - 500036
Issues for consideration
1 issue framed by the court
Whether the applicant has made out valid grounds to set aside the action of the respondent in taking physical possession of the security asset without complying with Sections 13(2) and 13(4) of the SA
Parties & counsel
- applicant
P. Divya
- respondent
M/s Housing Development Finance Corporation Ltd.
Coram
Rameshwar Kothe
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court