The Tribunal allowed the SARFAESI application set aside because the Demand Notice was not lawfully served. Possession was restored to the mortgagors, with liberty granted to the bank to proceed if default continues.
Sale set aside; possession restored to mortgagors; liberty granted to respondent bank to proceed further.
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S.A.07 of 2023 14.06.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 14th day of June, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 07 of 2023
ORDER
dated 18.10.2022 issued by respondent bank for recovery of a sum of Rs.1,23,76,102.05/-.
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S.A.07 of 2023 14.06.2023
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 14th day of June, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the sale held by the bank under SARFAESI Act could be sustained given that the Demand Notice was not served in a manner known to law.
M/s. Venishaa Foundations, Rep. by its Prop., Mrs. S. Brindha Devi
Mrs. S. Brindha Devi
Mr. K. Shankar
The Authorised Officer, Canara Bank
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
