This order allows the withdrawal of an application under the SARFAESI Act after the applicant borrower settled the loan account with the respondent bank.
Prayer for withdrawal of the SARFAESI application allowed.
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.
Order Sheet (Continuation)
| Case No.SA/8 | 5/2022 M/sTirupatiSalesCorporationVs.A/OCanara |
Bank&Anr. |
|---|---|---|
| DateofOrder | Orderwithsignature | sisnature of |
| OrderNo.30 pt.12.10.2023 Sl.No.78 som |
Present: ForApplicant:Mr.S Sahaalongwith l4sASaha.LdCounsel ForDefendant:None Ld CounselfortheApplicantthroughapetition bearingI.A.No. 2886of2023prayedforwithdrawaloforiginalSARFAESI applicationinview of the settlementmade betweentheparties. Prayeris allowed. Duringthependencyof theinstant litigationtheloanaccount wassettledforasumofRs,30,00,000/-andtheRespondent Bank has realizedandreceivedthe settledamountandissued 'NoDueCertificate'on14/09/2023.NowtheApplicanthas made prayertodisposeof thematterfornonprosecution.No oneispresentfortheRespondentBank.Sincethisisan amicablesettlementbetweentheSARFAESIApplicantandthe RespondentnoprejudicewillbecausedtotheRespondent Bank.Accordinqly,I.A.No.2886of2023isdisposedofas withdrawnandsettledamicably.TheSARFAESIApplicantis directedtoappear beforetheRecoveryOfficerwithan applicationinforming aboutthesettlement madebetweenthe partiesfor takingnecessaryaction, S.A. No.85of2022alongwithotherpendingI.A.(ifany) standsdisposedofaswithdrawnassettled amicably. FrlebeconsignedtoRecordRoomr,t(J-an.r-wL.le.!.,1lr---L''l' (KamalDe) PresidingOfficer DRT-3, Kolkata |
1 issue framed by the court
Whether the SARFAESI application can be withdrawn upon settlement of the loan account.
1 provisions across 1 enactments
M/s Tirupati Sales Corporation
A/O Canara Bank & Anr.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
