Allowed

Venkateswari v. Hdfc Bank

DRT24 Jan 2023SA/231/2022

Case brief

AI extract

What is this about?

The Appellate Bench of the Debts Recovery Tribunal allowed an application challenging a Section 13(4) possession notice. The first respondent recalled the demand and possession notices, restoring possession to the mortgagor, with liberty to initiate action afresh if the default continues.

What did the court decide?

Allowed without costs. Possession restored to mortgagor. No debit of expenses. Liberty to initiate proceedings afresh.

Venkateswari versus Hdfc Bank — Contract and Commercial Disputes | DRT (2023)

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S.A. 231 of 2022 24.01.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 24^th day of January, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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SARFAESI APPLICATION No. 231 of 2022

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Mrs.Venkateswari, W/o.Late. Venkatraman, No.15-A, Nandan Sababathi Nagar, Noorthencheri Main Road, Noorthencheri, Madambakkam,

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Chennai – 600 073.

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V.Samuvel Venudoss, S/o.Late.Venkatraman, No.15-A, Nandan Sababathi Nagar, Noorthencheri Main Road, Noorthencheri, Madambakkam, Chennai – 600 073. .…Applicants -Vs-

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M/s.HDFC Limited., 2^nd Floor ITC Centre, No.760, Anna Salai, Chennai – 600 002.

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M/s.HDFC ERGO General Insurance Company (India) Limited, 6^th Floor, Leela Business Park, Andheri, Kurla Road, Andheri (East),

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Mumbai – 400 059. ….Respondents

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Counsels on record / appeared:

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Counsel for Applicant : M/s. D.Parisuthanathan. Counsel for Respondent : Mr. N.Somasundaar & N.Geetha.

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S.A. 231 of 2022 24.01.2023

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ORDER

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This SA is filed challenging the Possession Notice dated 22.02.2022 issued by respondent institution under Section 13(4) of SARFAESI Act for recovery of a sum of Rs.1,26,59,506/-.

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Today a memo is filed on behalf of first respondent institution vide SR No.955/23 submitting therein that first respondent is recalling the Demand Notice issued under Section 13(2) of the Act dated 10.06.2020 and the subject impugned Possession Notice dated 22.02.2022, with liberty to initiate proceedings afresh. Copy of memo is sent to counsel on record for applicant by post and first respondent had affixed the postal receipt in the memo evidencing the same.

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Perused. Memo filed on behalf of first respondent is taken on file. In the result, this SA is allowed, however without costs. Possession is restored with the mortgagor. First respondent is directed not to debit their SARFAESI expenses to the borrower’s loan account. However, liberty be with first respondent to initiate action afresh, 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 PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 24^th day of January, 2023)

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Sd/-

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(GANAPATHI K.R.K) PRESIDING OFFICER

Venkateswari v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

Venkateswari v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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