SARFAESI proceedings withdrawn by respondent bank. Application dismissed as withdrawn. Bank barred from debiting account for post-withdrawal charges but reserves right to proceed legally.
Bank barred from debiting account for charges on or after 23.08.2023.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/209/2023 M/S SS TRADERS Vs STATE BANK OF INDIA
21.08.2023 Item No.89
Present: Sh. Kamal Satija, Counsel for the Applicant. Sh.Vivek Verma, Counsel for respondent bank.
Mr.Verma, has put in appearance on behalf of respondent bank and has made a statement at the bar that he has got instructions from the bank through email to the effect that the SARFAESI proceedings initiated by the bank are withdrawn, including the demand notice issued under Section 13(2) of the Act. In view of the statement made by counsel for respondent bank, Mr.Kamal Satija states that he does not want to pursue the present application. Accordingly, the application is hereby
dismissed as withdrawn .
Since, there are technical defects in the SARFAESI proceedings, bank would not be entitled to debit the account of the applicant with the charges incurred on or/after 23.08.2023, till date. However, it is made clear that the bank, would be within its right, to proceed against the applicant, as per law.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
MANOJ
M/S SS TRADERS
STATE BANK OF INDIA
(A S Narang)
As recorded by the court registry
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