The Debts Recovery Tribunal III, Chennai dismissed an application challenging a sale notice issued by a bank for the recovery of a credit facility. The Tribunal found the bank followed proper procedures and declined to interfere, noting the sale had not materialized on the scheduled date.
Sale notice dismissed; interim orders pending vacated; other IAs closed.
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. 309 of 2022 12.07.2023
IN THE DEBTS RECOVERY TRIBUNAL- III, CHENNAI
Dated this the 12th day of July, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 309 of 2022
1. Mrs.A.Dheepa
No.30, Nehru Street, Maruthi Nagar Ayyappathangal
Chennai – 600 077
Also at:
Mrs.A.Dheepa No.5/9, Theivanambi Street Sekar Nagar, Saidapet Chennai – 600 015
2. Mrs.R.Sundari
No.5/9, Theivanambi Street Sekar Nagar, Saidapet Chennai – 600 015
… Applicants
Vs.
The Authorised officer
M/s Axis Bank-RAC Arcot Plaza Old No.38, New No.163 Arcot Road, Kodampakkam Chennai – 600 024 … Respondent
Counsels on record / appeared:
Counsel for Applicants : M/s. M.Senthilkumar & Ilayarani Ponraj Counsel for Respondent : M/s. T.K.M.Sai Krishnan
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S.A. 309 of 2022 12.07.2023
ORDER
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S.A. 309 of 2022 12.07.2023
therefore the impugned sale notice has become infructuous. Submitting so, prayed for passing necessary orders.
(Dictated to Stenographer (DD), transcribed by her, corrected, signed and pronounced by me through e- drt, on this the 12th day of July, 2023)
(GANAPATHI K.R.K) PRESIDING OFFICER
Sd/-
2 issues framed by the court
Whether the SARFAESI proceedings conducted by the respondent bank were in accordance with law warranting interference by the Tribunal?
Whether the failure of the auction sale to materialize on the scheduled date renders the impugned sale notice infructuous?
1 provisions across 1 enactments
Mrs. A. Dheepa
Mrs. R. Sundari
The Authorised Officer
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
