Shashi Kumar v. Bank of India
Case brief
What is this about?
In this SARFAESI application, the Debt Recovery Tribunal addressed irregularities in the respondent bank's recovery process, including defective notice publication and lack of valuation, leading to the quashing of the auction.
What did the court decide?
The entire SARFAESI action including the sale is set aside; the auction purchaser will get deposited amount with 10% P.A. simple interest.
What the court decided
JrJ
SA 46 Of 2022 [Jl
DRT.PATNA
DEBTS RECOVERY TRIBUNAL PATNA
Presiding Officer : Shri KaushalendraiYadav
SA- 46 of 2022
Shashi Kumar, S/o Vishwanath Sharma, R/o Sale Tax Lane, South of New Hostel, Ward - 28, Damiuchowk, Natatola, Muzaffarpur (Bihar) - 842001. Pan No. - AKEPK6184H.
•...-.-Applicants
- Versus
- The Authorized Officer - cum -Chief Manager, Bank of India, Puja Market, Motizheel, Muzaffarpur, (Bihar) -842001.
- Mr. Prabhat Singh, S/o Madan Singh, R/o - C/o - Pappu Ji, Chitrakut Nagar, Road No.2, Belaganj Sadar, Muzaffarpur, Musahri, Muzaffarpur, 842001.
- --respondent
Issues for consideration
1 issue framed by the court
Whether the SARFAESI action violated procedures regarding service of notice, property valuation, and publication of sale notices violating Appendix BIVA.
Parties & counsel
- applicant
Shashi Kumar
- respondent
Bank of India
- respondent
Prabhat Singh
Coram
Case details
As recorded by the court registry
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