Challenge to auction conclusion raised by applicant. Bank informed applicant of surplus funds in a non-interest bearing account. Applicant consented to sale. Bank allowed refund via demand draft with interest.
Bank permitted to return surplus funds via demand draft with applicable interest.
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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SA No.249 of 2023
22.03.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 22nd day of March, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No.249 of 2023
Mr. M. Manogaran, S/o. Muthiyalu, No.34, Lane Street, Perumbakkam, Thandalam Village, Morapakkam Post, Madurantakam, Kancheepuram-603 306. ….Applicant -Vs-
The Authorized Officer, State Bank of India, Stressed Asset Recovery Branch Red Cross Building, II Floor, No.32, Red Cross Road, Egmore, Chennai-600 008. .....Re sponden t
Counsels on record / appeared:
Counsel for Applicant : M/s. R.K.M. Suresh . Counsel for Respondent : M/s. S. Ambalvannan
ORDER
dated 24.03.2023 issued by respondent bank, for recovery of a sum of Rs.29,63,415/-.
conceded to the conclusion of sale, it is prayed for the remaining amount, after adjusting
to the loan account be returned together with subsequent interest.
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SA No.249 of 2023
22.03.2024
guidelines
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 22nd day of March, 2024)
Sd/(GANAPATHI K.R.K) PRESIDING OFFICER
1 provisions across 1 enactments
M. Manogaran
The Authorized Officer, 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
