G Vijayakumar v. Axis Bank
Case brief
What is this about?
The Tribunal disposed of a SARFAESI application challenging a possession notice after the respondent bank settled the borrower's account under OTS during the application's pendency, setting aside the notice and restoring possession.
What did the court decide?
Possession Notice dated 18.10.2022 set aside and possession restored to mortgagor.
What the court decided
1
S.A No.438 of 2022
18.07.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 18th day of July, 2023
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No. 438 of 2022
Mr. G. Vijayakumar S/o Mr. Ganesan, 186, Earikarai Street, Kayrampedu & Post, Chengalpattu – 603 202. ….Applicant
Vs.
The Authorized Officer, Axis Bank Ltd, Legal & Support Team, 2nd Floor, Door No. 31, Old No. 14, South Mada Street, Mylapore, Chennai – 600 004. ….Respondent
Counsels on record / appeared:
Issues for consideration
1 issue framed by the court
Whether the SARFAESI application challenging the possession notice survives the settlement of the loan account via One Time Settlement (OTS).
Parties & counsel
- applicant
G. Vijayakumar S/o Mr. Ganesan
- respondent
The Authorized Officer, Axis Bank Ltd
Coram
Ganapathi K.R.K.
Case details
As recorded by the court registry
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