Disposed
Ramesh Prabhu v. Tamilnad Mercantile Bank Limited
DRTSA/312/2022
Case brief
AI extract
What is this about?
Debts Recovery Tribunal III, Chennai disposed of a SARFAESI application summarily after the respondent bank reported that the applicant borrower had settled the loan account during the pendency of the proceedings, directing recovery of physical possession if already taken.
What did the court decide?
SA disposed as settled out of court; interim orders, if any, vacated; physical possession of asset directed to be restored to mortgagor if taken pursuant to impugned order.