Set SA challenging sale notice on negotiated settlement. Tribunal permitted applicant to pay balance within 45 days; failure allows bank to proceed further. Disposed SA terms of joint memo.
Applicant permitted to pay balance amount within 45 days; respondent entitled to proceed further on default.
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. No.488 of 2022 15.06.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 15th day of June, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 488 of 2022
Mr.A.Ramaraju, S/o.R.Ayyangar, R.S.Vyabinaya Educational And Charitable Trust, Hayagreeva Matriculation Higher Sec. School (Campus) Nakkasalem Post, Alanthur Taluk, Perambalur District. ….Applicant
Vs.
The Authorised Officer, Incred Financial Services Ltd., Formerly Vishu Leasing and Finance Private Limited, Unit No.1203, 12th Floor B Wing, The Capital, Plot No.C-70, G Block, Bandrakurla Complex, Mumbai – 400 051. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.G.Sanjeevi. Counsel for Respondent : M/s.R.Umasuthan.
ORDER
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S.A. No.488 of 2022 15.06.2023
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S.A. No.488 of 2022 15.06.2023
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 15th day of June, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
R.S.Vyabinaya Educational And Charitable Trust
Incred Financial Services Ltd.
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
