Allowed

S Fancy Jeyarani v. Indian Overseas Bank

DRT15 Feb 2024SA/343/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the SARFAESI application filed by applicants challenging the bank's possession notice. Since the bank failed to appear or file a counter after receiving notice, the ex-parte Possession Notice dated 12.05.2023 was set aside, and possession was restored to the mortgagor.

What did the court decide?

The Possession Notice dated 12.05.2023 is set aside and possession is restored to the mortgagor; interim order vacated.

S Fancy Jeyarani versus Indian Overseas Bank — Banking and Recovery | DRT (2024)

SA No.343 of 2023

15.02.2024

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 15^th day of February, 2024

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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SARFAESI APPLICATION No.343 of 2023

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Mr. S. Fancy Jeyarani W/o. Benon Shalin Door No.10, Suriya Garden, K.K. Thazhai Madhavaram Milk Colony Chennai- 600 051.

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R. Benon Shalin, S/o. A. Rajamani, Door No.10, Suriya Garden, K.K. Thazhai Madhavaram Milk Colony Chennai- 600 051. ….Applicants

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-Vs-

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M/s. Indian Overseas Bank TV Market Branch Rep by its Authorized Officer No.189, T.H. Road, Thiruvottiyur Chennai- 600 019. ….Respondent

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Counsels on record / appeared:

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Counsel for Applicant : M/s. P. Jesus Moris Ravi None for respondent bank

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ORDER

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This SA is filed challenging the Possession Notice issued by respondent bank for recovery of a sum of Rs.23,04,533.68p.

SA No.343 of 2023

15.02.2024

Perused records. Notice to respondent bank is served on 19.08.2023 instance, despite which, respondent bank did not enter appearance nor filed counter and documents. Respondent bank is called absence and set ex-parte.

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In the result, SA stands allowed, as respondent bank failed to establish their measures while issuing the subject impugned possession notice despite acknowledging notice from this Tribunal on 19.08.2023. Possession Notice dated 12.05.2023 is hereby set aside and possession is restored to mortgagor. There shall be no order as to costs. Interim order, if any granted and subsisting till this day stands vacated and all other IAs, if any pending stand closed. Respondent bank will be entitled to proceed further in accordance to law, if the default of the borrower continues

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With the above directions, SA stands disposed

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A copy of the order be communicated to the parties concerned as per extant guidelines

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 15^th day of February,2024)

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Sd/(GANAPATHI K.R.K) PRESIDING OFFICER

S Fancy Jeyarani v. Indian Overseas Bank

Case brief

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S Fancy Jeyarani v. Indian Overseas Bank

Case brief

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What did the court decide?

What the court decided

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