The Tribunal dismissed the SARFAESI application challenging a possession notice as the respondent admitted withdrawing it, rendering the application devoid of a cause of action.
S.A. No. 448 of 2022 dismissed without costs; disposed of.
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S.A.448 of 2022 05.04.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 05th day of April, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 448 of 2022
| 1. Mrs.S.Eswari, W/o.Mr.A.Suresh, C-4, “Sreshta Euphoria” No.63, Nerkundram Road, Chinmaya Nagar, Chennai – 600 092. |
|
|---|---|
| 2. Mr.A.Suresh, S/o.Mr.Avinashi Gounder, C-4, “Sreshta Euphoria” No.63, Nerkundram Road, Chinmaya Nagar, Chennai – 600 092. |
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| 3. M/s.H.K.Enterprises, Rep. by Proprietor Mr.A.Suresh, No.10/16, Abbusali street, Saligramam, Chennai – 600 093. Vs. |
….Applicants |
| M/s.Cholamandalam Investment and Finance Company Ltd, Rep. by its Manager, Dare House, No.2, |
|
| N.S.C.Bose Road, Parrys, Chennai – 600 001 |
….Respondent |
| Counsels on record / appeared: | |
| Counsel for Applicant : M/s.N.Kumar Rajan. |
|
| Counsel for Respondent : M.Arunachalam. |
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S.A.448 of 2022 05.04.2023
ORDER
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S.A.448 of 2022 05.04.2023
promised to regularise their loan account forth with and infact had deposited little over Rs.19 lakhs to the credit of their loan account, owing to which promise, respondent financial institution has not acted in furtherance to the said impugned possession notice, which concludes that respondent has not acted upon the said notice in view of recovery made by them. Ld. counsel further submits that there is no possession notice subsisting for the applicants to maintain the present challenge and that the SA is infructuous.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 05th day of April, 2023)
Sd/-
(GANAPATHI K.R.K)
PRESIDING OFFICER
1 issue framed by the court
Whether the SARFAESI application is maintainable when the respondent bank admits having withdrawn the posession notice.
Mrs. S. Eswari / Mr. A. Suresh
M/s Cholamandalam Investment and Finance Company Ltd
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
