The Debts Recovery Tribunal disposed of a transferred application filed by a bank for recovery. The matter was settled out of court following a SARFAESI Act auction sale where realized amounts exceeded the principal claim, leading to the discharge of the OA without costs.
OA allowed as settled out of court; original documents to be returned to applicant bank.
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.
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T.A. 03 of 2023 09.02.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 09th day of February, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
TRANSFERRED APPLICATION No. 03 of 2023
(Originally filed before DRT II Chennai as OA No.352 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.03 of 2023)
M/s.Union Bank of India, Rep. by Branch Manager, Chennai Main Branch, No.139, Broadway, Chennai – 600 108. ….Applicant
Vs.
Flat No.G-1, ‘A’ Block, Kalpana Flats
11, Venkateswara Thiyaga Raja Nagar, Villivakkam, Chennai – 600 049.
Also at
Mrs.B.Subashini Pnevcon Valves (P) Limited Old No.888, New No. 35-B K.K.Nagar Chennai – 600 078.
Also at
Mrs.B.Subashini W/o. A.P.Sundaramurthy 3/62, Bajan Koil Street Sastha Nagar Extension, Villivakkam, Chennai – 600 049.
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T.A. 03 of 2023 09.02.2023
Venkateswara Thiyaga Raja Nagar, Villivakkam, Chennai – 600 049.
Also at
Mr.A.P.Sundaramurthy Proprietor Trizen Enterprises No.7/15, Pushpa Nagar, 2nd Street, Nungambakkam, Chennai – 600 034.
Also at
A.P.Sundaramurthy S/o.Pooviah 3/62, Bajan Koil Street Sastha Nagar Extension Vilivakkam, Chennai – 600 049. ….Respondents
Counsels on record / appeared:
Counsel for Applicant : Mr.S.Parthasarathy.
ORDER
3
T.A. 03 of 2023 09.02.2023
30.08.2022 and a sum of Rs.27.84 lakhs was realized, out of which a sum of Rs.23,25,523/- was adjusted towards loan account No.562906650000133 and a sum of Rs.1212.70ps was adjusted towards loan account No.562906650000379 in full quit of the OA claim, thus totaling to Rs.23,26,735.70ps and the remaining amount is available in suspense account. It is further submitted in the memo that the said SARFAESI sale is not challenged before any Court of law or any other authority or Bench or Tribunal. Copy of memo is sent by post to defendants and postal receipts evidencing the same is enclosed along with memo. Hence applicant bank prayed that the OA claim may be treated as settled out of Court and also prayed for return of original documents filed along with proof affidavit.
(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 09th day of February, 2023)
Sd/-
(GANAPATHI K.R.K)
PRESIDING OFFICER
M/s. Union Bank of India
Mrs. S. Subashini
Mr. A.P. Sundaramurthy
Shri Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
