R Ganesh v. Indian Bank
Case brief
What is this about?
The applicant challenged a possession notice issued under the SARFAESI Act for non-payment of loans. The Tribunal examined the NPA classification, legality of the measures, and compliance with service rules.
What did the court decide?
The Securitisation Application was dismissed; no interim stay granted; pending IAs closed.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL – II AT CHENNAI
Dated this 28th day of March, 2023
PRESENT : SHRI T.RAJESH PRESIDING OFFICER
SA No.489/2022
Mr.R.Ganesh, S/o.Rajendra Babu, Door No.41, Mohanan Street, Arani palayam, Arani Town & Taluk, Thiruvannamalai District 632 301.
… Applicant.
Vs.
The Authorized Officer, Indian Bank, MAPC, 19, Ayyankulam Street, Thiruvannamalai.
Also at Indian Bank, Arni Branch, P.B.No.15, 30, Vadiraja Street, Kosapalayam, Arni – 632 301. … Respondent. Counsel for Applicant : M/s.B.Rajesh. Counsel for Respondent : M/s.Saravana Prakash.S. …..
O R D E R
- This application is filed by the applicant under section 17(1) of the
Issues for consideration
3 issues framed by the court
Whether the classification of the account as Non-Performing Asset (NPA) is in accordance with the relevant guidelines and statute?
Whether the procedure followed by the respondent bank leading up to the issuance of the possession notice complied with the SARFAESI Act and Rules?
Whether the demand notice and possession notice were properly served and published as required?
Parties & counsel
- applicant
Mr.R.Ganesh
- respondent
The Authorized Officer Indian Bank
Coram
SHRI T.RAJESH
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 — this page · T. Rajesh
- Order 2 · T. Rajesh
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