The Debts Recovery Tribunal III, Chennai, dismissed the SARFAESI application as the applicant could not identify infirmities in the sale notice procedure and the auction had not been held, rendering the application infructuous.
The SARFAESI application is dismissed without costs; interim orders, if any, are vacated.
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.36 of 2023 19.05.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 19th day of May, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 36 of 2023
Mr.S.Dinesh Kannan, S/o.Mr.K.C.Selvaraju, Door No.36-A, Second Floor, Flat No.2C, Saravana Nagar, Kavundampalayam, Coimbatore – 641 030. ….Applicant Vs.
The Authorised Officer, Axis Bank Limited, Legal Collection Branch, No.32, 2nd Floor, South Mada Street, Mylapore, Chennai – 600 004. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.C.Ramaiah. Counsel for Respondent : Mr.T.K.M.Sai Krishnan.
ORDER
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S.A.36 of 2023 19.05.2023
be held on the scheduled date in view of compliance of first part of conditional order by applicant. However, applicant could not generate enough funds for complying with second part of conditional order. It is further submitted by Ld. counsel for applicant that respondent bank had issued yet another sale notice subsequently. Thus submitting, Ld. counsel prayed for passing necessary orders.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 19th day of May, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
2 issues framed by the court
Whether the SARFAESI application challenging the sale notice has merits?
Whether the application remains maintainable given the non-conduct of the auction?
S.Dinesh Kannan
Axis Bank Limited
GANAPATHI K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
