Dismissed

Vinothkukmar Kolamani v. Fincare Small Finance Bank Ltd.

DRT27 Mar 2023SA/73/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal dismissed the Debts Recovery Tribunal dismissed the SARFAESI application for default and non-prosecution as the applicant failed to file an application order or report compliance with the conditional order to deposit refunds. The interim stay, if any, was vacated.

What did the court decide?

SA dismissed for default and non-prosecution; interim stay vacated; all other IAs closed.

Vinothkukmar Kolamani versus Fincare Small Finance Bank Ltd. — Banking and Recovery | DRT (2023)

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S.A.No.73 of 2023 27.03.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 27^th day of March, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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SARFAESI APPLICATION No. 73 of 2023

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Mr.Vinothkumar Kolamani, S/o.Kolamani, No.79, Erattaimalai Seenivasan Nagar, Tiruvottiyur, Chennai – 600 019. ….Applicant

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Vs. M/s.Fincare Small Finance Bank, Mylapore Branch, Preethi Tower, Old No.149, New No.320, Royapettah High Road, Mylapore, Chennai – 600 004.

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Having their head office at

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No.835/39, 5^th Floor, Bren Mercury, Kolkondanahalli, Sarjapur Main Road, Bengaluru – 560 035. ….Respondent

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Counsels on record / appeared:

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Counsel for Applicant : M/s.E.Udaya Chander.

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ORDER

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This SA is filed challenging the Possession Notice dated 05.11.2022 issued by respondent bank for recovery of a sum of Rs.29,01,200/-.

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S.A.No.73 of 2023 27.03.2023

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This case was taken up on 16.02.2023 when applicant had filed a memo vide SR No.14449/22 undertaking to pay 10% of the amount claimed in the impugned possession notice and prayed for interim stay from this Tribunal. Accordingly, applicant was directed to deposit 10% of the outstanding amount within one week and another 10% within three weeks thereafter and the case is posted today for reporting compliance and for filing AOS.

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However, neither AOS nor memo reporting compliance of conditional order filed on behalf of applicant.

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Consequently, SA stands dismissed for default and non-prosecution. 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 directions, this SA stands disposed.

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

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 27^th day of March, 2023)

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

Vinothkukmar Kolamani v. Fincare Small Finance Bank Ltd.

Case brief

What is this about?

What did the court decide?

Vinothkukmar Kolamani v. Fincare Small Finance Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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Parties & counsel

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