TheDebts Recovery Tribunal dismissed the SARFAESI application filed by borrowers challenging a sale notice as withdrawn by the applicants, who could not mobilize funds to comply with a conditional order.
Application dismissed as withdrawn; liberty granted to agitate issues in the challenge to eventual sale notice.
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S.A.81 of 2023 27.04.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 27th day of April, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 81 of 2023
State Bank of India, Stressed Asset Recovery Branch, Rep. by its Authorised Officer, No.32, Red Cross Road, Egmore, Chennai – 600 008. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s.G.Desingu. Counsel for Respondent : M/s.Shivakumar & Suresh.
ORDER
respondent bank scheduling sale to 03.03.2023 for recovery of a sum of Rs.64,26,665/-.
date in view of compliance for first part of conditional order, however applicant could not
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S.A.81 of 2023 27.04.2023
mobilize funds to comply with second part of conditional order. It is submitted that applicants are making genuine attempts to settle the loan account under OTS and prays time. Ld. Counsel prayed that the SA may be permitted to be withdrawn with liberty to agitate afresh, in case of any sale notice in future and also made an endorsement to that effect in SA paper book.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 27th day of April, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
K.Paneerselvam
N.V.Arunachalam
State Bank of India
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
