Allowed
Prema v. Bank of Baroda
DRTSA/246/2023
Case brief
AI extract
What is this about?
The Debts Recovery Tribunal III, Chennai, allowed the SARFAESI Application challenging an order passed by CJM, Chengalpet under Section 14 of the SARFAESI Act. The Tribunal set aside the impugned order due to a clerical error in the possession notice filed by the bank, permitting the bank to proceed further in accordance with law.
What did the court decide?
Impugned order dated 13.10.2022 set aside; respondent bank permitted to proceed further; not to debit action expenses to borrower's account; pending IAs closed; interim orders vacated.