Dismissed

M s Donas Motors Pvt. Ltd. v. Karur Vysya Bank

DRT4 May 2023SA/90/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-III, Chennai dismissed the SARFAESI application seeking stay on a sale notice because the applicants failed to file a required cost memo before the court's filing hours. The Tribunal ruled the application was dismissed for default, and the respondent bank is at liberty to proceed.

What did the court decide?

Application dismissed for default without costs; interim orders vacated; respondent bank at liberty to proceed.

M s Donas Motors Pvt. Ltd. versus Karur Vysya Bank — Execution and Attachment | DRT (2023)

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S.A. 90 of 2023 04.05.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 04^th day of May, 2023

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

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SARFAESI APPLICATION No. 90 of 2023

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1. M/s. Donas Motors Pvt Ltd

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Rep. by its Directors Mr.D.V.Sairam & Ms.D.V.Latha No.125, Chottor Road Tiruttani – 631 209

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2. Mr.D.V.Sairam

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S/o. Mr.D.P.Venkatesan

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No.37, Kala Flats

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No.172, Habibullah Road

T.Nagar

Chennai – 600 017

3. Ms.D.V.Latha

S/o. Mr.D.P.Venkatesan No.37, Kala Flats No.172, Habibullah Road T.Nagar

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Chennai – 600 017

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4. Mr.D.P.Venkatesan

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S/o. Mr.D.Padmanaba Reddy No.37, Kala Flats No.172, Habibullah Road T.Nagar Chennai – 600 017 ….Applicants

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Vs.

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The Authorised Officer Karur Vysya Bank Tambaram Divisional Office 7/73, First Floor, SBA Complex Venkatesa Choudry Street West Tambaram Chennai - 600 045 ….Respondent

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S.A. 90 of 2023 04.05.2023

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Counsels on record / appeared:

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Counsel for Applicants : M/s. B.Gurumurthy Counsel for Respondent : M/s. A.Arun Babu & N.Devi

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ORDER

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This SA is filed challenging the Sale Notice dated 14.12.2022 issued by respondent bank scheduling sale to 31.12.2022 for recovery of a sum of Rs.56,86,065.97p

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Heard Ld.Counsels appearing for both the parties.

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Ld.counsel for applicant submitted that costs are duly paid complying the orders of this tribunal while dismissing the IA’s for urgent and stay petitions. However, no such memo is filed into the tribunal till the end of filing hours today. Ld. Counsel for respondent bank is present and submitted that no sale has taken place and therefore the SA has become infructuous and prayed time for filing counter and typed set of documents.

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In the result, as applicants neither complied with any condition in terms of their undertaking memo nor atleast costs imposed upon them, the present SA is dismissed for default and non-prosecution, however without costs. 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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Respondent bank will be at liberty to proceed further in accordance to law if the default of the borrower continues.

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With the above directions, this SA stands disposed

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S.A. 90 of 2023 04.05.2023

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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 Stenographer (DD), transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 04^th day of May, 2023)

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Sd/-

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(GANAPATHI K.R.K) PRESIDING OFFICER

M s Donas Motors Pvt. Ltd. v. Karur Vysya Bank

Case brief

What is this about?

What did the court decide?

M s Donas Motors Pvt. Ltd. v. Karur Vysya Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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