Allowed

Mrs Elavarasi v. Indian Bank

DRT18 May 2023SA/505/2022

Case brief

AI extract

What is this about?

This SARFAESI application challenged a possession notice by Indian Bank. Applicant deposited dues and served notices despite the bank's absence. The Tribunal allowed the application, set aside the possession notice, restored possession to the mortgagor, and directed no debit for possession expenses.

What did the court decide?

S.A. allowed without costs; possession notice set aside and possession restored to mortgagor; bank directed not to debit the notice expenses.

Mrs Elavarasi versus Indian Bank — Banking and Recovery | DRT (2023)

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S.A.505 of 2022 18.05.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 18^th day of May, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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SARFAESI APPLICATION No. 505 of 2022

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Mrs.Elavarasi, W/o.Late.Mr.Kamalakannan, No.10, Thiru-Vi-Ka Street, Shanti Nagar, Lawspet, Puducherry – 605 008. ….Applicant

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Vs.

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The Authorised Officer, Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry – 605 008.

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The Manager, M/s.Kotak Mahindra Life Insurance Company Limited, SJ Modern Tower, 2^nd Floor, No.13, Vallalar Salai, Kamaraj Nagar, Puducherry – 605 001. ….Respondents

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Counsels on record / appeared:

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Counsel for Applicant : M/s.K.Jothisivam.

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ORDER

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This SA is filed challenging the Possession Notice dated 10.11.2022 issued by respondent bank for recovery of a sum of Rs.30,06,720/-.

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S.A.505 of 2022 18.05.2023

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Counsel for applicant is present. AOS of fresh notice to respondent bank is filed. Notice to first and second respondentsare served on 29.04.2023 and 28.04.2023 respectively. There is no representation on behalf of respondent bank even during second round of call work.

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Perused records. This case is taken up on 12.12.2022, on which day applicant was permitted to deposit 10% of the outstanding amount by or before 31.12.2022 and another 10% by or before 20.01.2023 and notice was ordered to respondent bank returnable by 23.01.2023. On 23.01.2023, as applicant did not report compliance of conditional order nor filed AOS, case was posted to 17.02.2023 peremptorily. On 17.02.2023, memo reporting compliance of first part of conditional order only came to be filed, however AOS of notice to respondent bank was not filed. At request of representative counsel, who was present, case was adjourned to 08.03.2023 for filing AOS and for reporting compliance of second part of conditional order.

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On 08.03.2023, applicant reported compliance of second part of conditional order and submitted that it is complied with belatedly and prayed for condoning the delay. AOS of notice to respondent bank was filed, evidencing service of notice to first and second respondents on 03.03.2023 and 02.03.2023 instance, despite which there was no representation on behalf of respondent bank. Case was adjourned to 20.04.2023 for appearance and for filing counter and typed set of documents by respondent bank. On 20.04.2023 also there was no representation on behalf of respondent bank. It was submitted by Ld. counsel for applicant that account is regularised on payment of overdue instalments. In order to afford an opportunity to respondent bank to put up

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S.A.505 of 2022 18.05.2023

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appearance and report on the status of account, applicant was directed to issue fresh notice to respondent bank returnable by today.

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Despite receipt of notices twice from this Tribunal, as respondent bank did not put up appearance, respondent bank is called absent and set ex-parte.

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In the result, this SA is allowed, however without costs. Possession Notice dated 10.11.2022 is hereby set aside. Possession is restored to mortgagor. Respondent bank is directed not to debit the subject impugned possession notice expenses to the borrower’s loan account. However, liberty be with respondent bank to proceed further in accordance to law, if the default of the borrower continues.

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Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed.

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With the above observations, this SA stands disposed.

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A copy of the order be communicated to the parties concerned as per extant

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guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 18^th day of May, 2023)

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Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

Mrs Elavarasi v. Indian Bank

Case brief

What is this about?

What did the court decide?

Mrs Elavarasi v. Indian Bank

Case brief

What is this about?

What did the court decide?

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