M Kanakavalli v. Canara Bank
Case brief
What is this about?
The Debts Recovery Tribunal, Chennai set aside a sale notice issued under the SARFAESI Act and allowed the applicant's appeal, permitting the respondent bank to withdraw measures due to the original borrower's death without costs.
What did the court decide?
Sale notice dated 24.06.2022 set aside; costs against applicant not awarded; liberty to bank to take further action if default continues.
What the court decided
1
S.A.339 of 2022 12.04.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 12th day of April, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 339 of 2022
Mrs.M.Kanakavalli, Old No.C-14/9, New No.V 179, Chitra Nagar, Kotturpuram, Chennai – 600 085. ….Applicant Vs.
The Authorised Officer, Canara Bank, Teynampet Branch, 524, Anna Salai, Teynampet, Chennai – 600 018. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : Mr.Sreedar. Counsel for Respondent : M/s.S.Kesavan.
ORDER
- This SA is filed challenging the Sale Notice dated 24.06.2022 issued by respondent bank scheduling sale to 29.07.2022 for recovery of a sum of Rs.21,93,843/-.
Issues for consideration
2 issues framed by the court
Whether the sale notice issued under the SARFAESI Act should be quashed due to the withdrawal of measures by the bank following the death of the borrower.
Whether the bank is entitled to recover costs for the sale notice from the borrower's account if the measures are withdrawn.
Parties & counsel
- appellant
Mrs. M. Kanakavalli
- respondent
The Authorised Officer, Canara Bank
Coram
Ganapathi K.R.K
Case details
As recorded by the court registry
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