The Tribunal disposed of a SARFAESI application challenging a possession notice. The applicants settled the outstanding loan amount via cheque during the application's pendency, leading to the closure of the loan account by the bank.
SARFAESI application disposed of due to settlement of account; interim orders vacated; no costs awarded.
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SA No.320 of 2023
23.04.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 23rd day of April, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
SARFAESI APPLICATION No.320 of 2023
The Authorized Officer, State Bank of India SME Centre Chennai 5th Floor, 157, Anna Salai, Chennai- 600 002 …. Respondent
C ounsels on record / appeared:
Counsel for Applicants : M/s. T.V. Badrinarayanan Counsel for Respondent : M/s. E. Kumar
ORDER
respondent bank for recovery of a sum of Rs.6,09,044/-
of SA, first applicant paid a sum of Rs.4,99,553/- by means of cheque towards full payment of the loan availed in the name of his wife Mrs. S. Rajalakshmi who expired on
25.06.2021, subsequent to which respondent had closed the loan account on
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SA No.320 of 2023
23.04.2024
15.04.2024 in the name of his wife Mrs. S. Rajalakshmi. The letter issued by the Branch Manager, State Bank of India, Koyambedu Branch to this effect to the Assistant General Manager, State Bank of India, SMECC, Anna Salai, Chennai – 600 002, vide Ref.No.F/ADV/SME/2024-25/01 dated 15.04.2024 is annexed along with the memo.
guidelines.
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 23rd day of April, 2024)
Sd/(GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the SARFAESI application should be disposed of upon settlement of the outstanding loan amount by the borrower during the pendency of the application.
1 provisions across 1 enactments
Mr. K. Shanmugam H/o. Mrs. S. Rajalakshmi
Mrs. Premalatha Arunkumar D/o. Mrs. S. Rajalakshmi
The Authorized Officer, State Bank of India SME Centre Chennai 5
Shri Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
