The applicant filed a SARFAESI application challenging recovery measures initiated by IDBI Bank. The Tribunal dismissed the application, observing that the applicant failed to prove bonafides or prosecute the matter diligently.
SARFAESI application dismissed without costs; interim orders 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. No.350 of 2022 26.06.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 26th day of June, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 350 of 2022
Mr.S.Jayaraman, S/o.Samban, No.1/126, Srinath Nagar, 4th Street, Nemilicherry, Thirunindravoor, Chennai – 600 024. ….Applicant Vs.
IDBI Bank Limited, Rep. by its Authorised Officer No.115, Anna Salai, Saidapet, Chennai – 600 015. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.C.Seemon. Counsel for Respondent : M/s.S.Sathiyanarayanan.
ORDER
Section 14 of SARFAESI Act before Ld. CJM, Thiruvallur in Crl. M.P. No.2855 of 2022 dated 25.07.2022 for recovery of a sum of Rs.28,87,512/-.
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S.A. No.350 of 2022 26.06.2023
the credit of borrower’s loan account, SIAs filed for urgent hearing and stay were dismissed with costs. Thereafter, except for one hearing, continuously there was no representation on behalf of applicant. Applicant neither proved his bonafides nor prosecuted the matter diligently.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 26th day of June, 2023)
S.Jayaraman
IDBI Bank Limited
Shri Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
