The Debt Recovery Tribunal disposed of the application as infructuous because the respondent bank withdrew its SARFAESI action pending rectification of errors in the CERSAI certificate.
Application declared infructuous and disposed of pending rectification of CERSAI errors.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/319/2024 SOUMYA YOUSUF Vs JAMMU AND KASHMIR BANK LIMITED
21.11.2024 Item No.20
Present: Sh. Akhilesh Vyas, Counsel for the Applicant. Sh. Mayank Mathur, Counsel for respondent bank.
Mr.Mathur states that there are some errors in the CERSAI certificate. Accordingly, the bank has taken a decision to withdraw the SARFAESI action for the time being. He further states that the bank would initiate fresh SARFAESI action after getting the error rectified.
In view of the statement made by Mr.Mathur, the present SA has been rendered infructuous and stands disposed of . Needless to mention, bank would be free to rectify the error in the CERSAI certificate and to issue SARFAESI action again as per law.
File be consigned to the record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
Manoj
2 provisions across 2 enactments
Soumya Yousuf
Jammu and Kashmir Bank Limited
A S Narang
As recorded by the court registry
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