Allowed

Dulesierni Lionel v. Fullerton India Credit Company Ltd.

DRT27 Apr 2023SA/77/2022

Case brief

AI extract

What is this about?

In this SARFAESI application, the Debts Recovery Tribunal allowed the applicants' challenge to a sale notice issued by the respondent bank. The court set aside the notice dated 05.02.2022 because the respondent failed to place evidence regarding actions taken under the Act to support the sale.

What did the court decide?

Sale notice dated 05.02.2022 set aside; liberty granted to respondent to proceed further if default continues; interim order vacated; pending IAs closed.

Dulesierni Lionel versus Fullerton India Credit Company Ltd. — Specific Performance | DRT (2023)

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S.A.77 of 2022 27.04.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 27^th day of April, 2023

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Present: Shri Ganapathi K.R.K. Presiding Officer

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SARFAESI APPLICATION No. 77 of 2022

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Mrs.Dulsierani Lionel, 3/2, Ramalingam Street, Srinivasa Nagar, Peerkankaranai, Chennai – 600 063.

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Mr.Selvaraj Lionel Rajkumar, 3/2, Ramalingam Street, Srinivasa Nagar, Peerkankaranai, Chennai – 600 063. ….Applicants Vs. The Authorised Officer, M/s.Fullerton India Credit Company Limited, Megh Towers, 3^rd Floor, Old No.307, New No.167, P.H.Road, Maduravoyal, Chennai – 600 095. ….Respondent

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Counsels on record / appeared:

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Counsel for Applicant : M/s.D.Anand Ganesh. Counsel for Respondent : M/s.V.Balasubramani.

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ORDER

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This SA is filed by applicant challenging the Sale Notice dated 05.02.2022 issued by respondent bank scheduling sale to 24.02.2022.

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However, on perusal of records, it is found that respondent institution in their

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counter and typed set of documents did not file any documents evidencing the action

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S.A.77 of 2022 27.04.2023

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taken by them with regard to the sale notice impugned in this SA, but however in the last para of counter in page 5 had submitted that “the respondent further submit that as per the market value and auction bidder, the sale was occurred” .

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In the result, this SA is allowed, as respondent bank failed to establish the action taken by them under the Act, while issuing the subject impugned sale notice. Sale notice dated 05.02.2022 is hereby set aside. However, liberty be with respondent institution 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 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 April, 2023)

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Sd/-

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(GANAPATHI K.R.K) PRESIDING OFFICER

Dulesierni Lionel v. Fullerton India Credit Company Ltd.

Case brief

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What did the court decide?

Dulesierni Lionel v. Fullerton India Credit Company Ltd.

Case brief

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