Application challenging Section 14 measures under SARFAESI Act allowed on condition of amicable settlement by 31.03.2023. Interim orders vacated and pending IAs closed. Disposal.
Time granted to applicants to negotiate amicable settlement with respondent by 31.03.2023. Existing interim orders 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.374 of 2022 14.02.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 14th day of February, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 374 of 2022
Kancheepuram – 603 306.
Vs.
M/s.India Resurgance ARC Private Limited Rep. by Its Authorised Officer Mr.Mathew Arun,
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S.A.374 of 2022 14.02.2023
3rd Floor, Piramal Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013. ….Respondents
Counsels on record / appeared:
Counsel for Applicant : M/s.M.Ravindhar & S.Meenakshi. Counsel for Respondent : M/s.M.Arunachalam & M.Nagalakshmi.
ORDER
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S.A.374 of 2022 14.02.2023
respondent will be entitled to proceed further in accordance to law. Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.
guidelines.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 14th day of February, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether applicants are entitled to time for negotiation with the respondent bank before further recovery measures.
1 provisions across 1 enactments
M/s. Ansar Stores
M/s. Ansar Enterprises
M/s. Ansar Foods Poultry Farm
M/s. India Resurgance ARC Private Limited
Abdul Samad
N.A. Najumunisha
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
