In a Sale Application challenging a sale notice for recovery of a loan, the Debt Recovery Tribunal noted the sale became infructuous as no sale took place. Finding no infirmity in the bank's procedure despite low valuation claims, the court dismissed the application.
Sale Application dismissed without costs.
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. 233 of 2022 20.05.2023
IN THE DEBTS RECOVERY TRIBUNAL- III, CHENNAI
Dated this the 20th day of May, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 233 of 2022
S.Nanda Kumar
S/o. Sampath No. 11, Sirpi Nagar, K.J.Nagar Extension Nandivaram, Guduvancherry Chennai – 603 202 ….Applicant
Vs.
The Authorised Officer
Tamil Nadu Mercantile Bank Ltd No.29, Kamaraj High Road Devi Kaumariamman Nagar, Mettukuppam Nerkundram Chennai – 600 107 ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. V.Ramamurthy, R.Vijay Kumar, B.Ramprasad & H.Yuga Shree Counsel for respondent bank : M/s K.N.Chinnakrishnan & E.Kumar
ORDER
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S.A. 233 of 2022 20.05.2023
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S.A. 233 of 2022 20.05.2023
(Dictated to Steno (DD), transcribed by her, corrected, signed and processed through e-drt, on this the 20th day of May, 2023)
Sd/-
(GANAPATHI K.R.K)
PRESIDING OFFICER
2 issues framed by the court
Whether the Applicant could show any infirmity in the procedure adopted by the respondent bank while issuing the sale notice.
Whether the present Sale Application has any tenable merits.
S.Nanda Kumar
The Authorised Officer, Tamil Nadu Mercantile Bank Ltd
GANAPATHI K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
