vijay krishna v. Indian Bank
Case brief
What is this about?
The Tribunal dismissed a belated SARFAESI application by an alleged vendor who failed to establish maintainability, noting the property was already sold in an auction and possession delivered to the purchaser.
What did the court decide?
The SARFAESI application and the interim application stand dismissed.
What the court decided
SA No. 370 of 2024
02.07.2024
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 02nd day of July, 2024
Present: SHRI A. S. JAYACHANDRA Presiding Officer (In–charge)
SARFAESI APPLICATION No.370 of 2024
Mr. Vijay Krishna, S/o. Late S. V. Krishnan, No.9, South Avenue, Sri Nagar Colony, Saidapet, Chennai – 600 015. ….Applicant
-Vs-
- The Authorized Officer, Indian Bank, Guindy Branch, 131, SIDCO building, GST Road, Guindy, Chennai – 600 032 2. Mr. M. R. Bhaarath, S/o. Mr. M. Ranganathan, 3. Mrs. Ramya Bhaarath W/o. Mr. M. R. Bhaarath, Both 2 & 3 are residing at No.363, First South Main Street, Kapaleeswarar Nagar, Neelankarai, Chennai – 600 115. ….Defendants
Counsels on record / appeared:
Issues for consideration
2 issues framed by the court
Whether the SARFAESI application is maintainable given the delay of over three years from the impugned order.
Whether an applicant who is neither a borrower nor a guarantor and has lost title can succeed if the property was already auctioned and sold.
Parties & counsel
- applicant
Mr. Vijay Krishna
- respondent
The Authorized Officer, Indian Bank, Guindy Branch
- respondent
Mr. M. R. Bhaarath
- respondent
Mrs. Ramya Bhaarath
Coram
Case details
As recorded by the court registry
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