The Debts Recovery Tribunal allowed the SARFAESI Application against the HDFC Bank, setting aside the Chief Judicial Magistrate's order directed towards recovery of funds, and restored possession to the mortgagor due to the bank's default in appearing.
Impugned order dated 08.05.2023 is set aside; possession restored to mortgagor.
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S.A.362 of 2023 26.10.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 26th day of October, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 362 of 2023
S. Nagapushanam, Wife of P. Sekar, No. 5, Water Tank Street, Suthukeny & Post, Puducherry – 605 502. ….Applicant
Vs The Authorized Officer, HDFC Bank, Pudhucherry Branch, No. 16, Centio Building, 100 Feet Road, Pudhucherry – 605 005. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. S.R. Hemkumar
ORDER
Section 14 of SARFAESI Act before Ld. Chief Judicial Magistrate, Puducherry in Crl. MP. No. 2871/2023 dated 08.05.2023, for recovery of a sum of Rs.2,22,29,176/-.
was permitted to cause payments in terms of their undertaking memo filed vide SR No.8847 dated 13.07.2023 and notice was ordered to respondent bank returnable by 11.09.2023. On 11.09.2023, applicant reported that payments could not be made in
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S.A.362 of 2023 26.10.2023
terms of their undertaking and filed AOS. There was no representation on behalf of respondent bank despite acknowledging notice on 02.09.2023 instance. Hence case is posted today as last chance.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 26th day of October, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether SARFAESI Application challenging the recovery measures initiated under Section 14 of the SARFAESI Act should be allowed in default of the bank's representation.
1 provisions across 1 enactments
S. Nagapushanam
The Authorized Officer, HDFC Bank
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
