Nizamudeen v. Idbi Bank
Case brief
What is this about?
This Debts Recovery Tribunal dismissed a SARFAESI application filed by a third-party tenant challenging possession measures. The tribunal directed the applicant to vacate the property by 15.01.2024 after failing to settle with the bank.
What did the court decide?
Applicant directed to hand over vacant possession by 15.01.2024; interim stay vacated.
What the court decided
1
SA No. 346 of 2023 18.12.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 18th day of December, 2023
Present: ShriGanapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 346 of 2023
Mr. Nizamudeen No.5/17, Flat No.A4 Second Floor, Sri Hari Apartments Delli Street, Periyar Nagar Pammal, Chennai – 600 075 ….Applicant
Vs
- The Authorised Officer IDBI Bank Limited Saidapet Branch Opposite to Ashok Leyland Gotha Medu Housing Board Saidapet, Chennai – 600 015
- Mr. R. Srinivasan No.5/17, Flat No.A1 1st Floor, Sri Hari Apartments Delli Street, Periyar Nagar Pammal, Chennai – 600 075 ….Respondents
Counsels on record / appeared:
Issues for consideration
2 issues framed by the court
Whether the applicant can continue possession while exploring negotiation for settlement in ongoing SARFAESI proceedings.
Whether the applicant is directed to surrender vacant possession to the bank within the specified timeline.
Parties & counsel
- applicant
Mr. Nizamudeen
- respondent
IDBI Bank Limited
- respondent
Mr. R. Srinivasan
Coram
Case details
As recorded by the court registry
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