In this SARFAESI application challenging a sale notice deemed infructuous due to lack of bidders, the Tribunal held that the bank followed legal procedures correctly and the applicant failed to show infirmities, thus dismissing the application.
SARFAESI Application admitted / dismissed as infructuous / application dismissed without costs.
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. 358 of 2022 08.08.2023
IN THE DEBTS RECOVERY TRIBUNAL – III, CHENNAI
Dated this the 08th day of August, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 358 of 2022
K.Subramani
S/o Kaliyan No.6/100 C, Nadutheru Marudhadi Village Naranamangalam Post Perambalur District – 621 109 ….Applicant
Vs.
The Authorised Officer Union Bank of India Perambalur Branch Trichy Main Road Venkatesapuram Perambalur District – 621 212 ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. G.Sanjeevi & G.Sharmila Counsel for Respondent : M/s. A.Arun Babu
ORDER
to 30.08.2022 issued by respondent bank for recovery of a sum of Rs.10,88,966.28p.
applicant submitted that they had complied with the conditional order imposed by this Tribunal and since no sale had taken place on the scheduled date, the present
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S.A. 358 of 2022 08.08.2023
impugned sale notice dated 21.07.2022, has become infructuous for want of bidders and hence prayed for passing necessary orders.
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S.A. 358 of 2022 08.08.2023
(Dictated to Stenographer (DD), transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 08th day of August, 2023)
Sd/-
(GANAPATHI K.R.K)
PRESIDING OFFICER
1 issue framed by the court
Whether the Debts Recovery Tribunal should interfere with the sale notice issued by the bank as it was infructuous due to want of bidders.
K.Subramani
The Authorised Officer Union Bank of India
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
