Adhi Maran v. Yes Bank
Case brief
What is this about?
The applicant challenged a joint possession notice issued for movable and immovable properties as non-compliant with the SIE Rules 2002 due to the lack of prescribed formats. The Debts Recovery Tribunal upheld the challenge, allowing the application.
What did the court decide?
The possession notice dated 06.06.2024 is set aside; the bank shall not debit any amount towards expenses arising from it to the borrower's account.
What the court decided
SA No. 467 of 2024
23.08.2024
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 23rd day of August, 2024
Present: SHRI A. S. JAYACHANDRA Presiding Officer (In–charge)
SARFAESI APPLICATION No.467 of 2024
A. Maran @ Adhi Maran S/o. Muthu Adhi 25, Patel Nagar, 2nd Street, Tambaram West, Chennai – 600 045. ….Applicant
-Vs-
The Authorized Officer, Yes Bank Limited Plot No. 14, Kosmo one, 2nd Floor, Tower C, Chennai – 600 058. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. J. Prince Counsel for Respondent : M/s. S. Ramprasad
Issues for consideration
1 issue framed by the court
Wheather a possession notice issued under SARFAESI Act complied with the prescribed formats of Appendix 4 for immovable property and Appendix-I for movable property under SIE Rules 2002.
Parties & counsel
- applicant
A. Maran
- respondent
Yes Bank Limited
Coram
A. S. Jayachandra
Case details
As recorded by the court registry
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