Tharumaiyan v. Indian Bank
Case brief
What is this about?
This application challenged a sanctioned auction notice. The court permitted the applicant to negotiate a settlement by 31.12.2023, after which the bank may proceed, and disposed of the matter.
What did the court decide?
Applicant permitted to approach respondent bank for negotiated settlement by 31.12.2023; failing which, respondent bank may proceed with SARFAESI actions.
What the court decided
1
S.A.No.374 of 2023 01.12.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 01st day of December, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 374 of 2023
Mr. K. Tharumaiyan, S/o. Mr. Kichan, No. 4/A3, Kottaimettu Keelmel Street, Nagapattinam – 611 001. …. Applicant
Vs
The Authorized Officer, Indian Bank, Nagapattinam Branch, No.8, Nethaji Road, Nagapattinam – 611 001. …. Respondent
Counsels on record / appeared:
Counsel for Applicant : Mr. S. Sanjay Kumar Counsel for Respondent : Mr. R. Jagadeesan
ORDER
Issues for consideration
1 issue framed by the court
Whether the application for quashing the sale notice should be disposed of by granting an extension for negotiated settlement.
Parties & counsel
- applicant
Mr. K. Tharumaiyan
- respondent
The Authorized Officer, Indian Bank, Nagapattinam Branch
Coram
Ganapathi K.R.K.
Case details
As recorded by the court registry
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