Applicants challenged a sale under the SARFAESI Act. The Tribunal allowed the Application, finding the sale infructuous due to lack of bidders and noting the debt was assigned to CFM Asset Reconstruction Private Limited.
Sale challenged in the Application held infructuous; Interim order vacated and other pending IAs closed.
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.04 of 2023 24.04.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 24th day of April, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 04 of 2023
-Vs.-
The Authorised Officer, M/s.Edelweiss Housing Finance Limited, Wing A, 7th Floor, Citi Tower, No.117, Sir Theagaraya Road, Drivers Colony, T.Nagar, Chennai – 600 017. ….Respondents
Counsels on record / appeared:
Counsel for Applicant : M/s.R.Kalidass. Counsel for Respondent : M/s.V.Balasubramani.
ORDER
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S.A.04 of 2023 24.04.2023
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 24th day of April, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
2 issues framed by the court
Whether the sale challenged in the Application is quashable due to non-materialisation of the sale and assignment of debt.
Whether the Application should be disposed of in view of the assignment of debt to a third party.
R.Rajkumar
K.Sathya
The Authorised Officer, M/s.Edelweiss Housing Finance Limited
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
