Bawaa Pharmacy v. Indian Bank
Case brief
What is this about?
Application challenging a possession notice under SARFAESI Act was disposed of out of Court after the applicant settled the loan account by remitting Rs.30 lakhs and closing it on 31.01.2023.
What did the court decide?
SA disposed of out of Court; possession notice vacated; pending IAs closed.
What the court decided
1
S.A. 235 of 2022 13.02.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 13th day of February, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 235 of 2022
- M/s.Bawaa Pharmacy Proprietorship Concern. Mubarak Complex, No.183, Trunk Road,
Poonamalle , Chennai – 600 056.
- Mr. T.M.Haneef Faizal Proprietor of M/s.Bawaa Pharmacy S/o.T.C Mubarak Ali, No.1, Pazhankottai Street, Poonamallee, Chennai – 600 056.
- Mr.T.C.Mubarak Ali, No.1, Pazhankottai Street, Poonamallee, Chennai – 600 056.
Also at Mr.T.C.Mubarak Ali, Mubarak Complex, No.183, Trunk Road, Poonamallee, Chennai – 600 056. …Applicants Vs. The Authorised Officer M/s. Indian Bank No.5, J.C.N. Street, Poonamallee, Chennai – 600 056. ….Respondent Counsels on record / appeared: Counsel for Applicant : M/s. S.Suresh Law Associates Counsel for Respondent : Mr. K. Radhakrishnamurthy.
Parties & counsel
- applicant
M/s. Bawaa Pharmacy Proprietorship Concern
- applicant
Mr. T.M.Haneef Faizal
- applicant
Mr. T.C.Mubarak Ali
- respondent
The Authorised Officer M/s. Indian Bank
Coram
Case details
As recorded by the court registry
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