In a SARFAESI matter, the Debts Recovery Tribunal dismissed the applicants' challenge to a possession notice issued by the bank. The Tribunal found the bank followed due procedure, allowed time for settlement until Dec 31, 2023, and vacated interim orders.
Application dismissed without costs; applicants granted liberty to settle loan by 31.12.2023.
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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SA No. 534 of 2022
14.11.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 14th day of November, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 534 of 2022
Vs.
Indian Bank Valasaravakkam Branch Rep. by its Authorised Officer No.118-119, Indira Nagar Arcot Road Chennai – 600 087 ….Respondent
Counsels on record / appeared:
Counsel for Applicants : M/s. G.Desingu Counsel for Respondent : M/s. L.Fathima Fabiola
ORDER
respondent bank for recovery of a sum of Rs.23,69,882.17p.
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SA No. 534 of 2022
14.11.2023
3
SA No. 534 of 2022
14.11.2023
(Dictated to Steno, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 14th day of November, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the possession notice issued by the bank was in accordance with law and liable to be set aside.
Indian Bank
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
